The inability of the market to test levels below 1.0800 and the general USD-bullish sentiment in the market is lessening my conviction on my short USD/CAD trade. I will stick with it nevertheless for now as I got in at reasonable levels and my original analysis that a broad 1.0750/1.1050 sideways consolidation could ensue, looks to be coming to pass.
We are presently trading near 1.0900 which is exactly at the mid-point of the suggested consolidation range, making short-term trading pretty difficult at present. I will trade the edges of the range and stick with my bearish bias until proven wrong.