USDCAD stays in a bullish price channel on its 4-hour chart and remains in the uptrend from 1.2728.

As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.3100 area.

On the downside, a breakdown below the channel support could bring the price back to test 1.2856 key support, only a breakdown below this level could signal completion of the uptrend.