The rally-up of oil price from earlier might be closing to an end quite soon... (It is most probably just a fake/temporary rally-up...)
Oil price could be ready to go down much lower pretty soon (but for now it might still want to continue going up a bit more)... The oil price highly influence the strength of the CAD in Forex... (For now, the CAD should be still quite strong; when the oil price is up...)
The USD could (& might) also start to get a bit more stronger later on...
So this means that this pair could see some stronger upsides (a stronger trend reversal) later on...