USDCAD is facing the support of the rising trend line on the 4-hour chart, a clear break below the trend line support could signal completion of the uptrend from 1.3015, then deeper decline to 1.3050 area could be seen.

On the upside, as long as the trend line support holds, the fall from 1.3344 could be treated as consolidation for the uptrend, another rise to 1.3400 area is still possible.