Canadian Dollar Price Forecast: Can USD/CAD Reverse Course and Rally? 2021-05-19 20:35:00 Peter Hanks, Strategist USD/CAD Price Outlook: USD/CAD fell to its lowest level since September 2017 this week but has since reversed Rising risk aversion, falling crude oil prices and potential taper talk from the Fed could look to drive a USD/CAD recovery rally Still, the pair has declined for months and attempting to call a bottom near the lowest level in four years can be a risky endeavor Canadian Dollar Price Forecast: Can USD/CAD Reverse Course and Rally? USD/CAD was offered a brief reprieve from months of consistent selling pressure as market participants turned to Fed meeting minutes for insight. Prior to the report, USD/CAD slipped to its lowest level since September 2017 and the price chart reveals a series of lower highs and lower lows. Upon release, the FOMC minutes revealed “a couple” Fed officials expressed concern of inflation building to “unwelcomed levels.” The findings have led some investors to believe the beginning of taper talk has arrived which could prove bullish for the US Dollar.