USD/CAD broke below 1.2623 support, indicating that the upside movement from 1.2061 had completed at 1.2916 already. A deeper decline to test 1.2433 support could be seen next week.

A breakdown below this level could trigger further downside movement towards the 1.2061 previous low. Near term resistance is at 1.2700, only a break above this level could bring price back towards 1.2916 resistance.