Loonie skyrocketed and marked 14-month high

The weak oil market and US threat to impose 20% tariffs on Canada’s soft-wood lumber exports set USD/CAD under huge pressure, but bulls seem to had found enough courage and the pair skyrocketed towards 1.3614, having posted an impressive rallied and marked a 14-month high.
The four-hour time frame is showing mixed signs for short term development. RSI is located within overbought territory at 73, stochastic has reached extreme levels, but has started to turn south, while the 20-day SMA is keeping bullish, which is suggesting slight decline during the day.

Therefor we must take into consideration the very important 1.3600 level (December 28th’s high) and in case of closing above it, the bullish tend is about to continue in longer term with next target seen at 1.3670.