This pair is currently pushing down very strongly on the daily chart. But, it is coming into an area that I consider to be the Weekly Support Zone. This is an area that the USDCAD has tested multiple times in the past as support and resistance and is possibly an area that we could see a nice bullish bounce out of this market. For that reason, I will be waiting for price to come into this area for possible long trades.
My short term outlook will be to short this pair towards the Weekly Support Zone. I'll be looking for possible entries on the 1HR, 4HR Charts.
Weekly Support Zone(Grey Area) = (1.31837-1.32572)