RLinda ! USDCAD-> Expect a pullback before further growth

U.S. dollar rises moderately against the Canadian dollar in Wednesday morning session as investors await Federal Reserve meeting
The ICE-calculated index showing U.S. dollar dynamics is adding about 0.1%, as is the broader WSJ Dollar Index. Market participants and analysts are generally confident that the outcome of the meeting will be an increase in the key interest rate by at least 75 basis points.
On the chart, from a technical perspective, we see a retest of the resistance level that was last tested in September 2020. Within the distributive movement after the breakdown of the ascending channel and the momentum of 3.5% we see the formation of a false breakdown and the consolidation of the price under the resistance zone.

I assume that before the news release the price will be able to form a pullback towards the channel support, after which the growth can continue, as the price has not yet reached the global objectives, in terms of technical analysis. The short-term target for the pullback is the channel support zone.

Sincerely R. Linda!