Only charts

Usdcad broke the resistance at 1.3130 and now trading at 1.32 , the pair is trading in an upper rising channel. It could hit the upper side of the channel at 1.3270 this week and start a correction from there. If you are short usdcad and in a losing position , you can wait for the correction which might get as low as 1.3050. My previous analysis for the pair turned out to be wrong .

Usdcad has lost over 1000 pips over the last few weeks. Maybe it has paused for a while and recover to test the trend line shown in the below chart whih may be around 1.26 and the 200 MA lies at 1.2540 ... So you can jump in selling again at this area targeting 1.2460 and 1.2380..