are usdcad bulls exhausted yet?

usdcad has been trading over the 1.3 range most of the year but seams to be limited on the upside now with weaker rallies. WTI showing strength. At these prices the cad seams undervalued. My view looks like WTI will rally more which should begin to give strength to the cad. Possible that usdcad visit 1.20 again? From the chart it is giving signs it could. Looking for a touch again of the down channel i drew.