USD/CAD broke below the bullish trend line on the daily chart, suggesting that consolidation for the uptrend from 1.2248 is underway.

Range trading between 1.2650 and 1.3124 would likely be seen in a couple of weeks.

As long as 1.2650 support holds, the uptrend could be expected to resume and another rise towards 1.3500 is still possible after the consolidation.

USDCAD daily chart

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