• USD/CAD bears are moving in as the bulls start to lose interest. 
• The US dollar was firm overnight but has not managed to move higher in Asia, so far. 

USD/CAD is trying to break out to the upside but the bulls are making hard work of it as the price stalls on the bid. The central banks are a focus as are commodities, but the US dollar has been unable to break to fresh highs despite a hawkish Federal Reserve. The following illustrates prospects of a meanwhile bearish correction prior to a move to the upside. 

USD/CAD daily chart

USD/CAD has firmed from the daily chart's consolidation area between the low 1.24 area and the 1.2550s. The bulls are breaking out towards a 38.2% Fibonacci area through 1.2580 but a downside correction could be in order if the US dollar cannot maintain trajectory.