At the 4 hour chart, the loonie looks like moving in an upward sloping channel and above the moving average with 50 period. It means USD/CAD is still moving in a bullish bias. However, this pair may get a correction to re-enter the resistance which become the support zone between 1.3045 - 1.3168 levels before it continues the previous bullish trend.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com