USDCAD stays below a falling trend line on its 4-hour chart and remains in the downtrend from 1.2943.

As long as the price is below the trend line, the downside movement could be expected to continue and next target would be at 1.2450 area. Near-term resistance is at 1.2625, only a break of this level could bring the price back towards the falling trend line.

USDCAD 4-hour chart

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