Thats an interesting narrative about the CAD/USD exchange rate. Conventional wisdom would have said that it was that the high prices of oil raised the canadian dollar compared to the us dollar. If at the time you thought the price of oil would come back down then it would be an opportune time to sell canadian dollars and hold USD.

In your comment it seems that you are suggesting there was some kind of squeeze from retail holders that caused the price rise in CAD to USD... I find that tough to believe but have not considered it.