Hi guys, USDCAD is on its way to 1.25. As you see from my chart, I expect this pair to stuck in range between 1.265 and 1.23. I'm personally starting to buy this pair from 1.25 to 1.23, it will probably take 1 month from now to reach 1.23. The FED is still dovish and acting in favor of more risky assets, so in short and mid term, I am more bullish about CAD. It will take some time to charge long for this pair. For the last 2-3 months every bullish sign for dollar was diminished, and now I anticipate the change of course, so It's only a matter of time when we reach 1.3. Most likely at the end of August, FED's would be more hawkish and finally start real tapering, but before that, I'm more bearish on USD. OPEC+ reached the deal and oil already found its buyers, it is probably on its way to 75-77. Delta variant factor was also disregarded for now. Next week will be much more interesting with CAD inflation data and FED's rate decision, I think it will push this pair at least to 1.24.
