We are expecting a movement down to the 1.24xx area within the next 6 weeks or so.
Some things to keep an eye on are the Trump Administration's actions concerning NAFTA, which may effect the CAD and MXN in the long term.
The last couple weeks were all about the steel and aluminum tariffs, but both Canada and Mexico have had favorable exceptions granted to them.
Do your due diligence before trading.
To anyone who did not take profit, you quickly saw your position diminish over the course of a few weeks. Money management is important, make sure you close your trades either fully or partially when you are supposed to. You should not be waiting until after the price moves 60 pips in the opposite direction to close out!
Fortunately, we're seeing a nice setup on the USDCAD again, and it seems this time it may make a potential rebound downwards towards 1.26 again.
Keep your eyes on this pair.