From a technical point of view, on a daily chart, USD/CAD has struck against a former rising trend line and is capped by its 50-day moving average (in blue). The daily RSI stands around its neutrality area. Readers may therefore consider the potential for further weakness below horizontal resistance at 1.3250. The nearest support would be set at November bottom at 1.2920 and a second one would be set at set at September 2018 low at 1.2790 in extension.
Source: TradingView, GAIN Capital