The CAD is strongly tied to the commodities market. This is one of the reason why the USDCAD has been bullish these period. Crude oil is now showing some signal of strength and the same is for Gold and Silver.
The USDCAD has retraced on the previous support between 1.4 and 1.38.
It's about to create a good opportunity for a trend continuation trade with a good risk/reward. It's ealry to enter now, but keep an eye on this cross.