USDCAD is in downtrend from 1.0100, the rise from 0.9932 is likely correction of the downtrend. Key resistance is at 1.0100, as long as this level holds, the downtrend could be expected to resume, and another fall towards 0.9800 is still possible, only a break above 1.0100 could trigger another rise to 1.0200 zone.
For long term analysis, USDCAD had formed a cycle top at 1.0445 on weekly chart. Further decline towards 0.9406 (Jul 26, 2011 low) would likely be seen over the next several months.
