I'm looking for it usdcad to fall as far as 1.34 and then go long to drive up on the lower end of the long term trend.
Canada is only just starting it's deflation so I would be thinking it could make it to 1.6 pretty easily, perhaps overshoot to 1.7 and then come back again.
Not control, there is a big shake out in process and commodity countries & business will not be able to escape it. The more defaults there are the more money that moves into USD and all commodity debt is in USD so this will create a doom loop where more and more will go under and trigger more movement of money to USD.
I would expect this to take between 6months to 2 years by which point CAD would be at 1.6 to 1.7 where it can be a long term short back again.