USDCAD break lower may be limited.

The USDCAD looks poised to trade towards the 1.2860-1.2880 level near term where a confluence of 127% Fibonacci extensions are at from the August to September rally and the last November bounce as well. RSI is not oversold but divergent which may suggest a near term low may be found there. The USDCAD has been slow to react to USD weakness and may attempt a move lower soon.