USDCAD break above 1.0051 key resistance, suggesting that the downtrend from 1.0523 has completed at 0.9799 already. Further rally could be seen next week, and next target would be at 1.0200 area. Key support is at 0.9799, only break below this level could trigger another fall towards 0.9406 previous low.
For long term analysis, USDCAD has formed a cycle bottom at 0.9799 on weekly chart. Further rise towards 1.0400 is expected over the next several weeks.
