As we can see from the chart the USDCAD has break through the 200 moving average which can also act as a trendline, bounce back to 1.3280 but still below the trendline and suggesting the bear still in control. If we miss the opportunity to short back then we can start shorting now or wait and compound when the price break 1.2960 SL: 1.3440 TP: 1.2065