USD/CAD has been consolidating for a few weeks between roughly 1.3275 and 1.3405. This week, we have a bullish breakout.USD/CAD 4H Chart(click to enlarge)Bullish Continuation:- The 4H chart shows that price has been rallying from under 1.30 at the start of February to a high around 1.3535 by March.- The trend seems to be bullish in the short/medium-term until USD/CAD retreated from 1.3535 and started to consolidate.- Still, note that price held above the 200-period simple moving average (SMA), maintaining at least some slight bullish bias overall.- The bullish breakout this week also pushed the RSI to 70, which re-established bullish momentum.- At this point, if price can hold above 1.3350 and the RSI can hold above 40, we should have bullish continuation at least towards the March high of 1.3535.Key Range Resistance:- Above 1.3535, there is a key range resistance around 1.3580-90. - The daily chart shows that price has flattened since rallying in the second half of 2016. Price action has settled within a range between roughly 1.2990 and 1.3590. USD/CAD Daily Chart (click to enlarge)