USDCAD is facing the resistance of the falling price channel on the 4-hour chart. A break of the channel resistance could signal resumption of the uptrend from 1.3015, then next target would be at 1.3400 area. On the downside, as long as the channel resistance holds, the bounce from 1.3224 could be treated as consolidation for the short term downtrend from 1.3345, deeper decline to 1.3180 area is still possible.
