The USDCAD is going through some much-needed consolidation. Following a 1,150 pip rally that started with the March 9th gap up, the USDCAD has given back 750 pips. At least that was the situation as of Friday’s low. Today’s session has the USDCAD higher by 140 pips after a gap up to start the week. Buyers are also testing that 1.4150 key level. Notice how 1.4150 is the March 20th low and very close to Friday’s high of 1.4153. So far, the USDCAD has secured a 4-hour close above that level. But the real test for bulls will be today’s close at 5 pm EST. If you’ve followed me for a while now, you know I use the New York ... (full story)