The pair broke below 1.2650, the next immediate target is at 1.2600, but I think we will see it fall much lower than that level in the coming weeks. I initially thought we would see some retracement once it reached 1.2660, but apparently the bearish trend is still too strong.
USD/CAD broke below 1.2600 and continues dropping, it didn't even retrace at the support at 1.2660 which is MA89 on the weekly time frame as I thought it would. The bearish trend clearly continues and next long-term target is around 1.2000, I think.
USD/CAD will continue dropping, I think. The trend is clearly very bearish still and there is no signal even for the beginning of consolidation, let alone a reversal. The pair is currently testing 1.2500 and I have almost no doubt that it will break below that level.