I spoke with Reuters today

The USD/CAD chart broke below a major trendline that stretches back to May today. However it looks like the pair will close above.

That level is a big one to watch in the day(s) ahead.

I spoke with Reuters today about what's driving the Canadian dollar and what's next.

"It's potentially a watershed day for the Canadian dollar because it has broken below the trend line since May ... and that may signal big things for the Canadian dollar ahead," said Adam Button, currency analyst at ForexLive.

"To start the year there has been an incredible battle in Canadian dollar trading between oil, which has been declining, and Canadian economic news which has been sparkling. And with oil bouncing back today it has cleared the way for an extended Canadian dollar rally."