USDCAD is testing the support of the bullish price channel on its daily chart. A clear break out of the channel support will indicate that the uptrend from 1.2968 had completed at 1.3793 already, then deeper decline to 1.3200 area could be seen. On the upside, as long as the channel support holds, the pair remains in the uptrend, and another rise towards 1.3800 is still possible. Near term resistance is at 1.3580, a break of this level could signal resumption of the uptrend.
