Bullish Setup on USDCAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
It has been observed that USDCAD is trading near a strong support zone which coincides with 78.6% retracement of the impulse upmove.

A long can be initiated at 1.3038-1.3040
Stop: 1.3018
Target: 1.30713
Stops can be trailed post target for a possible breakout move from the down channel .
Trade closed: target reached: Can Trail stops to cost and try staying with the trend which has broken the down channel