The USD/CAD pair is currently consolidating above the 1.4050 level as it remains in an overbought condition. This means that the pair has been trading at higher levels for an extended period of time. Traders are closely monitoring the situation to see if the pair will experience a reversal or continue its upward trend. As of now, the pair is holding steady above the 1.4050 mark, indicating that there is still buying interest in the market. It will be important to keep an eye on key levels and indicators to determine the future direction of the USD/CAD pair.