- 4H CHART -
This week the USD/CAD pair has successfully broken the lower limit of both Violet and Blue channels with a long bearish 4H candlestick.
This bearish breakdown took place after successful "Head & Shoulders"  reversal pattern with neckline at 0.9950 rendering price levels 0.9950-0.9970 (which corresponds to the lower limit of the broken channels and the neckline for the reversal pattern) a valid SELL entry.

- The 1H -
The USD/CAD has successfully broken the lower limit of the steep bullish Violet channel thus giving a valid bearish signal.
The upper limit of the Yellow channel at 0.9970 is now considered as a significant Intraday resistance level which should be defended by bulls in order to initiate the expected bearish movement.
The lower limit of the Blue channel at 0.9945 will stand as a fragile support level; in case of breakdown, the USD/CAD pair will probably decline towards 0.9925 & 0.9888.
The expected bearish movement will probably have targets at 0.9903 and 0.9850 levels. However, trading above 1.0000 invalidates the current bearish scenario.