USD/CAD is weakening after having broken hourly resistance at 1.2520 (17/01/2018 high). Resistance is now given at 1.2589 (01/01/2018). The technical structure indicates that further short-term weakness is expected.
In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading below 200 DMA.