#USDCAD: Oil vs. the U.S. DollarUS Dollar vs. Canadian DollarFX:USDCADStriforUSD/CAD finds itself at the intersection of several major fundamental drivers. Elevated oil prices continue to support the Canadian dollar, while the U.S. dollar maintains its advantage thanks to higher interest rates. From a technical perspective, the pair has reached the key 1.4030–1.4050 support zone. As long as this area holds, buyers still have a chance to build a short-term recovery. A decisive break below this range would open the door toward the next major demand zone and increase downside pressure on the pair. Going forward, USD/CAD will largely be driven by developments in the oil market and the Middle East, U.S. PPI data, and the Bank of Canada's guidance following its interest rate decision.