USDCAD H1: Bullish outlook seen, further upside above 1.3450

On the H1 time frame, prices are testing a key resistance zone at 1.3450. The current squeeze in Bollinger bands could be followed by higher volatility. A break of the 1.3450 level would be an upside confirmation, which presents an opportunity to play the breakout to the next resistance zone that coincides with the 61.8% Fibonacci retracement at 1.3550.