there is being a downtrend in the USD/CAD since early summer past year, now it has tested the 1.24 level a few times, and MACD is about to make a cross, in a few hours BoC set interest rates and release the monetary policy report and i believe most of the outcome for this pair would depend on that report, as analyst say that market has already priced in 80% of the rate hike that is likely to happen.