The USd/CAD has been consolidating since last week after it marked a fresh high on the year at 1.1385. We can say that it has been slightly bearish in a falling wedge pattern. However, with the prevailing uptrend mostly intact, the wedge is interpreted as a pause in the uptrend, with risk of further upside. USD/CAD 4H Chart 10/24(click to enlarge) The 4H chart shows that price did dip below the 100-, and 50-period SMAs. This shows loss of some bullish bias, but nothing substantial, especially with the 4H RSI holding above 40, which shows that despite the 2 weeks of consolidation, the prevailing bullish momentum is still intact.Now, we did see a shake this week down to 1.1183. The same 4H candle tagged the 1.1294 level, essentially holding under 1.13. This range could be key, in that a break above or below should introduce a bullish or bearish outlook respectively. A bearish outlook should be limited in the short-term with the 1.1070-1.1080 lows as a possible support. A break above 1.13 revives the uptrend which not only has the 1.1385 high in sight, but also risk of bullish continuation above that.