USDCAD failed to break above 1.3540 resistance and stays in the trading range between 1.3387 and 1.3540. As long as 1.3540 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 1.3793, another fall towards 1.3200 is still possible after the consolidation. Only a clear break above 1.3540 resistance could signal completion of the downtrend.
