USDCAD Short - correlation to WTI Crude

The USDCAD has bounced of the MA200 and just shy of a steeper downward trend line within the larger downward trend line. WTI Crude is at important short time resistance and has momentum upwards, specially with the Friday push right in to resistance. We could see a break of that resistance during next week with a strong bullish move and that will push the USDCAD further down testing previous low at 1.30500.