USD/CAD Price Analysis: Bears are lurking in the highs, eyes on a correction

• USD/CAD bulls eye a continuation for the sessions ahead.
• However, the USD/CAD bears could be about to make a move. 

USD/CAD has taken off and broken prior highs in a run to test the 1.36 area on the charts. As the following illustrates, while there are prospects of higher to come, the price is building higher highs within a rising wedge. 

USD/CAD daily chart

The bulls have shot up to test the 1.36s and there are eyes on 1.3650 and then 1.3670.

USD/CAD H1 chart

However, if the bulls don´t commit immediately, there will be prospects of a slide into the rally in a correction that could target the old highs in a 38.2% Fibonacci retracement: