USDCAD To Form A New HIigher High

From last week's daily close, we can see clearly that a new higher low has just recently been formed on the daily and even on the 4 H chart. On the daily and 4 H, an ABCD pattern to the upside is in play. Now, before we can get to out targeted level i do expect price to break the 1.31538 monthly resistance before going higher although i am expecting to see a bit of consolidation on the 4 H time frame before we can possibly break that level.