USDCAD remains in downtrend from 1.3598, the rise from 1.3029 is likely consolidation of the downtrend. Near term resistance is at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2900 area. Key resistance is at 1.3293, only break above this level could signal completion of the downtrend.
