USDCAD broke above 1.2555 resistance, indicating that the downtrend from 1.2920 had completed at 1.2355 already.

Further rally would likely be seen after a minor consolidation and next target would be at 1.2650 area.

Support levels are at 1.2480 and 1.2420, only break below these levels could bring price back towards 1.2355.