USD/CAD has been bearish since retreating from the 2014-high at 1.1277 in March. USD/CAD 4H chart 6/3Consolidation:The 4H chart shows that it found support at 1.0813 in May. It has since been consolidating between the 1.0813 support and 1.0940 resistance pivot. After a failed attempt to break below 1.0813 last week, USD/CAD rallied back to 1.09 area as we get into the 6/3 US session. In the 4H chart, the usd dollar - loonie is testing the 200SMA.A break above 1.0945 will establish a double bottom and shift the mode from bearish to sideways, to bullish. Central pivot:Also monitor the 1.0874-1.0886 area, as it represents the central pivot of the double bottom, or consolidation zone. If price falls back below 1.0870, the outlook remains bearish. However, a hold above 1.0875 with a push back above 1.0940 has a bullish outlook.To the upside, the 1.10 level is the first key handle to break for further bullish confirmation. Above that, the 1.1053 resistance pivot and April high is next.To the downside, below 1.0870 is the 1.0815 low, then the 1.0737 pivot, up to teh 1.0750 area where the 200-day SMA resides.