The USD/CAD has been in choppy sideways consolidation with a slight bullish bias.USD/CAD 4H chart 7/21(click to enlarge)Bullish positions survived:In the previous update I noted that I had a couple of positions open for USD/CAD.After hitting the first target at 1.3120, USD/CAD then retreated below 1.29. The remaining positions was threatening to hit the stop loss at 1.2818, in which case, I would put away the bullish outlook. However, the ascending triangle remained intact and price stayed above 1.2850. This week, USD/CAD broke above a falling speedline and the cluster of 200-, 100-, and 50-period simple moving averages (SMAs) in the 4H chart. If oil prices remain pressured, USD/CAD should continue to be buoyed with upside towards the 1.3120 level as well as the 1.3185 high from May.