i assume a bearish trend down towards 1.24200 level. BOC is expecting another rate hike in October which is why the market has been buying the cad. with strong wage growth and employment the cad is in a stronger position the usd. the fed has been dovish of late about a 3rd interest rate hike in September, even though there has been a improvement in employment and wage growth CPI has faild to correspond with this. until CPI picks up expect the bearish trend is likely to continue