The question is does it stop this rally ?.
I'm not sure, while I keep bias for Dollar this week, I admit that oil price could continue to fall.
There is no major support of Oil untill $33, current level of oil price is not stable, and it quickly tests $33 in the near term before finding support around that level.
With USDCAD , it also broke the I draw on the chart, 76.4% Fib extension is at 1.4000 : A meaningful psycho level.
Indicator : It contacted overbought zone at 80 --> The Buy is reaching its peak.
Actually, the rally of USDCAD is too fast, I'm very surprised. Last week, I just positioned to 1.3650, but now is 1.3750, I missed the trend.
The best way is wait, at least I want to see a correction first because I can't find the entry and where I place stop loss.
You can take risk and drive U/C to 1.4000 if you're enough brave.