USDCAD remains in the downtrend from 1.3226, the bounce from 1.2884 is likely consolidation for the downtrend. Near term resistance is at 1.2980, as long as this level holds, the downtrend could be expected to continue and next target would be at 1.2800 area. Only a breakout of 1.2980 resistance could signal completion of the downtrend.
