Canadian bears reactivated with lower oil

The USDCAD is a great example on how technicals and fundamentals work together.

While the USDCAD traded lower into its demand zone at 1.39, oil started selling off again and lifted the USDCAD.

If price can get above 1.412, we see 1.43 as the next upside target. The contingency is that oil keeps selling-off though.