USDCAD NEAR RESISTANCE, PRESSURE FROM TOP

USDCAD RANGING STILL IN PLACE, ALTHOUGH I SEE A POTENTIAL CORRECTION DOWN TO S2 LEVEL, IF BROKEN WE ARE VERY LIKELY TO SEE S3 TARGET HIT IN THE COMING WEEKS. BREAKOUT OF R2 RESISTANCE COULD TRIGGER FURTHER MOVE UP TO 1.2660 AREA. BREAKOUT OF THE S1 SUPPORT AND CLEAN BOUNCE OFF IT COULD BE A GOOD CONFIRMATION FOR FURTHER DECLINE