USDCAD is been consolidating since April 24, 2019 near the monthly resistance 1.34500 and is finally broken as the Bank of Canada releases the unchanged Interest rate decision as 1.75%. The decision was in line with market expectations but the ongoing slump in Crude Oil prices kept exerting some downward pressure on the USDCAD. The US strengthens from the global flight to safety amid lingering fears over a full-blown trade war between the world’s two largest economies and the china decides to use rare earths to give answers at the US. The pair spiked forming a new high for the month since April, testing at 1.35450. Currently trading near 1.35050, extending the upward surge above 1.35200 will continue its bullish move forming new highs. The pair in other hand will fall again into the consolidation region once 1.34900 is broken.