USDCAD - Monthly Chart Analysis

Price has been in a nice bullish trend since late 2012. It had an exponential runup all of 2015 and has since cooled off and corrected. Price is approaching a critical point in the structure. If there is a break above the 1.30 level, this would indicate that bullish momentum is continuing, but there is a probability that it will reject the 1.30 area and continue to range as it has most of 2017. There would need to be some seriously positive U.S. news for price to break that area.