USDCAD is forming a sideways consolidation in a range between 1.2352 and 1.2797. Another fall to test 1.2352 support would likely be seen, a breakdown below this level will target 1.2200 area. Key resistance is now at 1.2663, a break of this level will signal resumption of the long term uptrend from 1.1191 (Nov 21, 2014 low), then the following upward movement could bring price to 1.3000 area.
