FXstreet.com (Barcelona) - USD/CAD rally from 1.2400 seems to capped at 1.2600 resistance level so far, and failure to break above there has brought about a withdrawal reaction of about 80 pips towards support line at 1.2510.

The pair seems to be going under a fairly neutral bias in the hourly charts, and the Mataf.net Technical team advances consolidation between 1.2510 and 1.2600: USD CAD broke 1,2510 resistance. USD CAD is in a consolidation after the last bullish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 1,2510 / 1,2650 range.