On the USDCAD daily chart we can see that the pair has reached the level of the last defense for the uptrend 1.3050-1.3100. If we get a bounce from here, there is a possibility of uptrend continuation. If not we could see a test of 1.2800 level lower. Keeping in mind recent medium term uptrend price action and great possibility of a FED hike this downside extension has less probability.
Happy trading! (click on the chart to enlarge it)
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