USDCAD broke above the falling price channel on the daily chart, indicating that the downside movement from 1.4667 had completed at 1.2993 already. Further rally would likely be seen in a couple of weeks and next target would be at 1.3600 area. Near term support is at 1.3200, only break below this level could trigger another fall towards 1.2900.
![USDCAD daily chart](https://www.forexcycle.com/wp-content/uploads/2020/20200927_USDCAD_1.png)