The USD/CAD is forming a new trend to the downside. The W1 time frame is crossing to the downside so we expect this pair to start dropping. Below the current 1.0870 support area, noted in yellow, this pair has a lot of potential to drop. You can set a price alert at this price and check The Forex Heatmap® for a sell signal below that price in the main trading session. Next support level is around 1.0650. The trend analysis you see was done with exponential moving averages and multiple time frame analysis.
USD/CAD Trend Analysis 5-7-2014