Currency Strategist at Scotiabank Eric Theoret sees the possibility of re-visit to the 1.42/1.44 area in the near term. Key Quotes “USDCAD remains in corrective mode (higher) aŌer last week’s rebound from 1.3640”. “Gains through 1.3930 in the past 24 hours should facilitate a fairly sizeable retracement of the 1.47/1.36 drop seen through late January”. “We are aiming for a push higher to the 1.42/1.44 range in the next few weeks before upside pressure moderates”. For more information, read our latest forex news.