The USDCAD rally from 1.0631 is in 3 waves. The form suggests that the trend remains down. A break to a new low would expose a Fibonacci extension at 1.0317, the 78.6% retracement at .9914 and the 100% extension of the 1.3068-1.0782 decline at .9444. This level intersects a potential channel line at the end of September. 1.0950 is resistance.