USD/CAD Forecast: Buyers Retain Upper Hand Amid Crude Oil Support

USD/CAD traded slightly lower on Tuesday, even as the US Dollar (USD) remained strong. The Canadian Dollar (CAD) found support from a modest uptick in crude oil prices following renewed strikes on commercial ships near the Strait of Hormuz.

Despite the day's decline, the pair's buyers continue to hold the upper hand, though momentum appears to be fading. The price action suggests that CAD's oil-linked strength may cap further upside for USD/CAD in the near term.