USD vs CAD Daily Chart

Friday's wide spread up bar brought a week of sideways consolidation neatly to an end with the usd to cad virtually closing at the same price as at the open of Monday morning, and finishing the day above both the 9 and 14 day moving averages. As outlined several times before in previous market commentaries for this pair it is no surprise to see a period of sideways consolidation and perhaps even a short term reversal following such a long and sustained bearish move, and with the 9 and 14