So the strategy for trading this pair should be buying at support levels and covering the positions near its resistance levels. Breakout of support or resistance levels will trigger further movement in the same direction.
Major Support and Resistance:
Resistance: 1.2908, 1.2955, 1.3008, 1.3085, 1.3320, 1.3530
Support: 1.2816, 1.2698, 1.2621, 1.2507, 1.2461, 1.2417, 1.2321
As per the technical analysis our strategy for the next few days should be:
Buying USDCAD at its nearest support and selling near 1.2955 with a stop-loss of 35 pips and targets should be near its support and resistance levels. And if stop-loss triggers then the position should be reversed again with a 35 pips stop-loss.