USD/CAD moved sideways in a range between 1.2355 and 1.2590. As long as 1.2590 resistance holds, the downside movement could be treated as consolidation of the downtrend from 1.2920, and a breakdown below 1.2355 support could trigger another fall towards 1.2061.

Only a breakout of 1.2590 resistance will suggest that the downside movement from 1.2920 had completed at 1.2355 already, then a further rise towards 1.2920 resistance could be seen.