USD/CAD was in a bearish trend from June to September, falling from a high on the year at 1.3795 to a low at 1.2061. Since September, price has been rallying. USD/CAD Daily Chart(click to enlarge)Bullish Breakout:- The daily chart shows that price action stalled at a falling trendline resistance in October. - But as we enter the final week of the month, price has broken above this falling trendline.- Also, note that the RSI has pushed above 60, which reflects lost of the prevailing downtrend (May - Sep).- The breakout opens up the August high around 1.275-1.2780.- If we are right about the bullish attempt, then the 1.2550-126 area should become support.