Analysts at Citibank forecast the USD/CAD pair at 1.40 in a three months period and at 1.35 in six to twelve months. Key Quotes: “We forecast a rebound in 3Q of this year with WTI prices eventually reaching $42 bbl by the end of the year. Additionally, the BoC and Canadian government have eased an extraordinary amount very quickly. Fiscal support is expected to come in at 6% of GDP. Eventually, this will allow the Canadian economy to rebound. We therefore forecast CAD upside vs. USD in the medium term.” “Silver linings are already emerging: We are optimistic that the largest waves of newly unemployed workers have passed, as the increase in new applications for the Canada Emergency Response benefit has continued to moderate.” “USDCAD looks like a double bottom within a triangle. Good resistance is at 1.4173-1.4181 with the potential double bottom neckline at 1.4265. Support may be found at 1.3851-1.3856.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/JPY Price Analysis: Pound pops and falters near 131.00 figure, bearish FX Street 2 years Analysts at Citibank forecast the USD/CAD pair at 1.40 in a three months period and at 1.35 in six to twelve months. Key Quotes: “We forecast a rebound in 3Q of this year with WTI prices eventually reaching $42 bbl by the end of the year. Additionally, the BoC and Canadian government have eased an extraordinary amount very quickly. Fiscal support is expected to come in at 6% of GDP. Eventually, this will allow the Canadian economy to rebound. We therefore forecast CAD upside vs. USD in the medium term.” “Silver linings are already emerging: We are optimistic that the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
