USDCAD breaks above 1.2394 resistance, suggesting that a short term uptrend is underway. Further rise is expected to 1.2700 zone, and sideways consolidation in a range between 1.1761 and 1.3015 is expected in next several weeks.
For long term analysis, USDCAD remains in bullish movement, and the fall from 1.3015 is treated as consolidation to long term up trend. Further rise towards 1.4000 to reach the next cycle top on monthly chart is possible.
