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.

The USD/CAD pair has been growing during the past month and is currently approaching 1.3855 (Murrey [7/8]), supported by monetary factors.

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.

The USD/CAD pair tests the resistance level of 1.3773 and could grow amid falling oil prices and the American dollar strengthening due to the escalation of the geopolitical situation in the Middle East.