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USD/CAD Ascending Channel But The Price Is Ranging

The USD/CAD is currently ranging within an ascending channel. We could see a dip then a move up.

The POC zone comes around 1.2650 and we could see a move to the upside. However, watch for the FOMC today. If the markets dips to the POC watch for a bounce. Above 1.2890 we should see a bullish move. The target then will be 1.3060. Below 1.2550 watch for 1.2478 and 1.2341 as the price will turn bearish.