This week, the USD/CAD pair resumed its downward trend and is currently testing 1.3550 (Murrey level [–1/8]). The Canadian currency is receiving support after the resumption of trade talks between official Ottawa and Washington.

The price may grow.

On the daily chart, the first upward wave of the higher level (1) ended, and the correctional second wave (2), within which the wave and of (2) formed. On the four-hour chart the correctional wave B of (2) and the wave a of B are developing. If the assumption is correct, the USD/CAD pair will grow to the levels of 1.4020–1.4164. In this scenario, critical stop loss level is 1.3587.

During the morning session, the USD/CAD pair is showing ambiguous trading dynamics, developing a downward trend in the ultra-short term, which began forming at the beginning of last week from the high of 1.3800 on May 30 and is testing the level of 1.3600 for a breakdown.