USD/CAD has been bullish for most of 2018 so far. In fact, it has been bullish since September after tagging 1.21. However, as it rallies towards 1.32, I think we will see some resistance. $USDCAD Daily Chart(click to enlarge)Consolidation:- The daily chart shows that a market that is in consolidation since 2016. Before that USD/CAD was bullish.- If we step into the world of Elliott Wave Theory, it looks like the market is about to complete the 4th wave (or wave d) in a possible abcde pattern. This wave d itself is possibly an abc correction.- This all makes sense if indeed USD/CAD fails to clear above 1.32 this week. - If so, we should anticipate a cyclical bearish swing going into April. Breakout Scenario:- If price breaks above 1.32 on the other hand, anticipate a push towards 1.36. Support around 1.30 would help confirm this bullish scenario.