Not to be left out, after an almost 400pt rally USD/CAD is threatening a correction lower. A close below $1.0310 today would confirm this, but the failed spikes on the hourly chart at the $1.0367 level today are hinting at this, especially when combined with the very overbought daily slow stochastic, RSI and momentum studies. A close above the 2013 high is needed to kick start topside momentum. Any correction should initially target the $1.0210-15 region.
