USD/CAD Price Analysis: Bulls on the verge of a fresh hourly impulse

• USD/CAD bulls in control and the correction is dying out. 
• USD/CAD bulls are seeking an optimal entry point on the lower time frames. 

The following illustrates a bullish bias from the analysis on the hourly and 15-min time frames: 

USD/CAD, 1-hour chart

The price has corrected to a significant 38.2% Fibonacci retracement area near 1.2580. 

Given the bullish trend, a bullish continuation could be on the cards for the closing sessions ahead. 

USD/CAD 15-min chart

At this juncture, from a 15-min perspective, the price is testing the lower boundaries of dynamic trendline support. 

If this holds and the price subsequently moves through the 21-EMA and the current resistance, 1.2600, then the bulls will have the green light to target higher highs. 

With that being said, a bullish structure could form below 1.2600 over the next series of 15-min closes in the 1.2690s.

Bulls will be monitoring for a support structure and an optimal entry point from which a buy limit could be set.