USDCAD remains in downtrend from 1.1278, the rise from 1.0857 is likely consolidation of the downtrend. Resistance is located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and next target would be at 1.0750 area. Only a clear break above the channel resistance could signal completion of the downtrend.
