In the coming months, the Canadian dollar will continue to weaken against the US dollar. A further drop could be around 13%.
In the period from 2003 to 2015, a global reversal took place in the pair (circled in a large blue circle). Then, until 2022, there was a double retest of the reversal area (small blue ellipse above the horizontal yellow line).
Therefore, over the course of several months, I predict an impulse upward movement in this pair to at least the level of 1.53 from the current level of 1.36xx. Growth will be about 13%
In the period from 2003 to 2015, a global reversal took place in the pair (circled in a large blue circle). Then, until 2022, there was a double retest of the reversal area (small blue ellipse above the horizontal yellow line).
Therefore, over the course of several months, I predict an impulse upward movement in this pair to at least the level of 1.53 from the current level of 1.36xx. Growth will be about 13%