USDCAD takes a fall as crude oil rises

Oct Crude oil futures up 4.1%
The October crude oil futures are up 4.1% in trading today (Oct is transitioning to the front contract month now) to 44.40 area. The price moved above a downward sloping trend line yesterday (see chart below).  The contract traded as low as 37.75 on Monday.  The rebound is a healthy 17.6% from the low. Of course, the price has fallen from 64.74 since May. So there is room to correct and still keep the "bearish figure" 

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