USD/CAD is consolidating above 1.2800 ahead of the release of the retail sales data from Canada. If the indicator shows a monthly value that is not worse than expected, then the pair will decline. Additional driver for it could be the growing oil prices.
The quote is above the middle line of the Bollinger indicator, below the SMA 5 and SMA 14. The relative strength index (RSI) is at 50% and is declining slightly, while the stochastic indicator is above the oversold zone.
A decline and consolidation below 1.2800 is likely to lead to a local fall to 1.2720.