USD/CAD Technical Analysis: Bullish flag pattern spotted on short-term charts

   •  The pair traded with a mild negative bias through the early European session on Wednesday and eroded a part of the previous session's strong upsurge to near two-week tops.

   •  Given the overnight upsurge, the downtick along a descending trend-channel on the 30-min. chart constituted towards the formation of a bullish flag chart pattern.

   •  Moreover, technical indicators on the mentioned chart have also eased from near-term overbought conditions and thus, support prospects for an extension of the positive momentum.

   •  However, a convincing break below the key 1.30 psychological mark will negate the positive outlook and turn the pair vulnerable to accelerate the slide back towards mid-1.2900s.
 

USD/CAD 30-min. chart