USDCAD broke below 1.2803 support, suggesting that the downside movement from 1.3124 has resumed.

Further decline could be expected in a couple of days and next target would be at 1.2650 area. Resistance levels are at 1.2860 and 1.2948, only break above these levels could signal completion of the downtrend.

USDCAD 4-hour chart

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