USDCAD is in sideways consolidation in a range between 1.1464 (Nov 5, 2008 low) and 1.3015 (Oct 28, 2008 high). Further rebound to 1.2600 to reach the next short term cycle top on 4-hour chart would more likely be seen in a couple of days, and pullback is expected before breaking above 1.2765 previous high.
