On the daily chart, the USD/CAD pair is steadily rising within a medium-term upward trend. Currently, the price has consolidated above 1.3888 (61.8% correction), reinforced by the 61.8% downwards fan line, allowing it to reach 1.4140 (100.0% correction). However, in case of a breakdown of the Bollinger bands middle line at 1.3733 (38.2% correction, 38.2% downwards fan line), the decline will resume towards the targets of 1.3638 (23.6% correction, Bollinger bands lower line) and 1.3483 (0.0% correction).

The probability of growth remains.

On the daily chart, the correction forming the second wave of the senior level (2) has completed, and the ascending third wave (3) is being built. On the 4-hour timeframe, the initial entry wave of a lower-degree wave i of 1 of (3) is unfolding, within which wave (v) of i is forming. If this scenario proves correct, the USD/CAD pair’s upward trend is expected to continue toward the 1.4132–1.4400 zone, with a critical stop loss level at 1.3767.

During the morning session, the USD/CAD pair is rising, attempting to consolidate above 1.3800 against macroeconomic statistics from Canada.

Against the unstable dynamics of the American currency, the USD/CAD pair is trading at 1.3791, receiving no support from the macroeconomic statistics from Canada.