USDCAD is trading in a bigger, three-wave reversal labelled as blue wave 2 from December highs. We are specifically tracking sub-wave 4 of C), which can look for resistance near the 1.3165 level, level of a previous swing high, and there reverse lower. The whole impulsive wave C) can in sessions ahead look for support and a bounce near the 1.2930/1.2900 region.
USDCAD, 4h
