USD/CAD Technical outlook: Is it time for a long-term change in trend? Joe Perry January 20, 2021 3:44 PM A weaker price on a in crude oil on the weekly chart would suggest a stronger USD/CAD on the longer-term timeframe! Share: As with any currency pair, there are an abundance of factors to consider when trying to forecast price. Those factors can be broken down into technical factors and fundamental factors. On the technical side, price action is paramount. However, for USD/CAD, one must also include the correlation between USD/CAD and crude oil when considering price movement. Crude oil is a key export for the Canadian economy; therefore, it is important that we also consider the price movement of USD/CAD.