The highest point $USDCAD reached in 2018 was at the last 4 trading days at 1.36583. After this high, a bearish trend began and since then, price has refused to go back to a level of 1.36583. Price has since then fallen to the lower region of the Bollinger bands. 2019 has been bearish for the $USDCAD.
The trendlines broke down after price touched the upper line of the Bollinger bands. RSI is already showing an overbought position which is also shown with the price action. After a new support level has been reached in 2019 at 1.30883, a range in price has been dominating the price movement. Ichimoku also shows the bears are in the market and this might continue for a while. Price of $USDCAD might fall about 900pips which the $USDCAD bears have gone down with 300pips already. Price might continue the downward movement for a few weeks to come.