USDCAD broke below the bottom of the price channel on daily chart, deeper decline to test 1.1121 support is possible, a breakdown below this level will signal completion of the uptrend from 1.0619, then the following downward movement could bring price to 1.0800 area. On the upside, as long as 1.1121 support holds, the fall from 1.1466 would possibly be consolidation of the uptrend, one more rise to 1.1800 area is still possible after consolidation.
