It shows that USDCAD now is in good resistance area of 1.0715. Last day we have a nice engulfing candle. Now a bearish movement is expected. Before that it needs to break the rising trendline successfully then we can expect it to go the direction 1.0560 followed 1.0500. But a successful break of the resistance area of 1.0715 will make this scenario invalid.

USDCAD weekly outlook
USDCAD weekly Analysis
Menu