USDCAD broke above the falling trend line on the 4-hour chart, indicating that the short term downtrend from 1.2916 had completed at 1.2700 already. Further rally would likely be seen and a break of 1.2825 could take price to next resistance level at 1.2916. Near term support is at 1.2700, only a breakdown below this level could trigger another fall towards the bullish trend line on the daily chart.
