The USD/CAD is pulling back from 1.0312, being contained by 1.0341 resistance. However, the fall is most likely a consolidation of the uptrend from 1.0013. One more rise to re-test 1.0341 resistance is possible. A break above this level will signal resumption of the longer term uptrend from 0.9632 (September 14, 2012 low), then the next target would be at the 1.0500 area. On the downside, as long as 1.0341 resistance holds, the rise from 1.0013 would possibly be a correction of the downtrend from 1.0341. Another fall towards 0.9500 is still possible after correction.