USDCAD stays below a bearish trend line on its 4-hour chart and remains in the downtrend from 1.2778.

As long as the price is below the trend line, the downtrend could be expected to continue and next target would be at 1.2460 area.

On the upside, a clear break above the trend line resistance could bring the price back to test 1.2690 resistance, only break above this level could trigger another rise towards 1.3000.