USD/CAD analysis for November, 2023 - Potential for the breakout mode

Technical analysis:

USD/CAD has been trading sideways at the price of 1.3880 and I see potential for the breakout mode.

Due to the the defined upside trend on the short-term perspective and potential bull flag pattern in creation, I see potential for the further upside continuation in case of the breakout of 1.3900.

Upside objective is set at the price of 1.3970

Alternative scenario : In case of the breakdown of the support at 1.3800 and hold below, there is the chance for the drop towards 1.3670

RSI oscillator is showing positive reading and upside condition.