USD/CAD has been falling since failing to clear the November 2016 high just under 1.3590. As we can see on the daily chart, price fell sharply at the end of the year into the start of 2017, but has stalled at 1.32. USD/CAD 1/10 Daily Chart(click to enlarge)Channel Support:- As we can see on the daily chart, price has been rallying in an upwards channel since May 2016.- After failing to reach the channel resistance in December, price fell and is now just above the channel support.- Let's take a look at the near-term consolidation at/above 1.32 and the channel support.USD/CAD 1H Chart 1/10(click to enlarge)Range Consolidation Above 1.32:- As we can see in the 1H chart, price action has traded sideways since tagging 1.32.- The resistance is around 1.3270 - both a flat resistance and a falling resistance.Reward to Risk Assessment:- Let's say we respect the channel support.- After seeing the current range, it might be prudent to plan a buy closer to 1.32. - Let's say we plan an entry at 1.3230.- A stop at 1.3170 risks 60 pips.- The conservative target of 1.3315, let's say 1.33, offers a potential gain of 70 pips. - To me, a conservative target should at least be 1:1 in R:R.- Now, 1.34 is a viable target and offers a potential gain of 170 pips, almost a 3:1 R:R.- Finally, an aggressive target at the moment would be back to the 1.3580 area, which offers a 350-pip potential, and thus a almost a 6:1 R:R. - I would consider putting in a trailing stop if price tags the 1.34 target. This is because there is still a chance price will come back to test the 1.32 area even after hitting the 1.33 target.