Citibank analysts forecast the USD / CAD to be 1.40 in three months and 1.35 in six to twelve months.
“We expect a rebound in the third quarter of this year, with WTI prices eventually reaching $ 42 billion by the end of the year. In addition, the BoC and the Canadian government quickly eased an extraordinary amount. Budget support is expected to reach 6% of GDP. Ultimately, this will allow the Canadian economy to rebound. We therefore expect the CAD to rise against USD over the medium term. “
“Silver coatings are already emerging: we are optimistic that the largest waves of new unemployed have passed, as the increase in new claims for Canadian emergency response benefits has continued to moderate.
USDCAD looks like a double bottom in a triangle. The good resistance is at 1.4173-1.4181 with the potential double bottom neckline at 1.4265. Support can be found at 1.3851-1.3856. “