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USD/CAD Not Ready for the Triangle Breakout

The 4H USD/CAD below shows a pair that has been consolidating since the swing to a high on the year at 1.3213. We can see that the market is in a triangle, but the important part is that price action is testing the consolidation structure resistance. 

USD/CAD 4h Chart 8/18
(click to enlarge)

The market might be waiting on tomorrow's (8/19) CPI data and FOMC Minutes. Let's see how the market reacts. I think the volatility can get up to 1.30-1.3150. A price that settles above this range should indicate bullish continuation with the 1.3213 high back in sight, and with risk of breaking higher.On the other hand, price that settles below 1.30 should lead to further consolidation/correction with downside risk towards the 1.2860 lows from late July.