IMO, the three biggest things influencing the CAD/USD rate right now are:
- Price of oil
- The US Fed and Bank of Canada going in opposite directions
- The Canadian economy likely heading into a technical recession.

Some other analysts I follow suggested $65 by the fall based on the fact that the gap between supply and demand isn't that great but the ever evolving supply side of the equation keeps throwing curves in this prediction and the price of oil is now falling after a bit of a rally.

There's a good chance that the Fed raises rates in the US in September but it's dependent on a number of economic indicators. And there's been talk about raising rates for a year now but it keeps getting pushed out. The BoC just dropped its rate to 0.5% but it's doubtfully it will drop lower.

And unless some miracle happens in the June GDP numbers, Canada will enter a technical recession. All things considered, the economy has been bad but not that bad. The real question is whether or not the economy picks up as expected in the second half of the year.

Depending on how the above things evolve, I wouldn't discount seeing the loonie dropping below 70cents USD, particularly how the rates have over-swung because of currency speculators, but I wouldn't necessarily say it's a sure thing either.