The USD/CAD pair has bounced from its minor support zone on a 4 hour time frame. However, the price did penetrate really deep in this zone which represents that there is not much of buying pressure at this level and therefore, the bears were able to push the price deep in this zone. Moreover, the price is trading well below the downward trend line which confirms the strength of the downward trend. If price does break this level of support then the next level of support could near the 1.0176 zone.
The prise is also trading within the Bollinger band which confirms that the volatility for the pair is low. However, the RSI is giving some bullish signals because there is a clear sign of divergence between the price and the RSI. The divergence occurs when the price is making the higher high and the RSI does not and vice versa. Therefore, the minor support zone could push the price up and could reverse the trend.