Trend line and swing area stall the fall
The USDCAD has moved lower in trading today. However the price did find some support buying near a swing area at the 1.3920 to 1.3930, and a lower trendline on the hourly chart (connecting lows from April 23 and April 28. That trendline stalled the fall at 1.39125 today. The low price reached 1.39111.
Dip buying traders will likely use those levels as risk defining levels going forward. Stay above, and a further corrective probe to the upside can be anticipated. Move below and all bets are off as the trend recently remains to the downside on the hourly chart.
A move above the North American session high at 1.3961 would give buyers more comfort.