USDCAD broke above the downward trend line on 4-hour chart, indicating that consolidation of the downtrend from 1.0960 is underway. Range trading between 1.0626 and 1.0710 is possible in a couple of days. Resistance is at 1.0710, as long as this level holds, the downtrend could be expected to resume, another fall towards 1.0500 is still possible after consolidation.
