Although we are currently in a downward correction from the June rally I expect this to be limited to the 50% fib which is 12800. The Oil price is helping the CAD hold onto its gains at the moment but the upside in Oil should be limited you can see the analysis on Oil in the linked charts. From the 12800 I would expect the USDCAD to post another rally back to previous resistance and possibly a new high - Find out how I trade BOAFX.com