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 1.3858.

During the Asian session, the USD/CAD pair is undergoing a corrective move around 1.3949: the outcome of the corporate bond issuance provided some support to the Canadian dollar.

The USD/CAD pair is trading around 1.3950, supported by the US macroeconomic statistics from the labor market.

The US dollar is showing near-zero dynamics in the USD/CAD pair, holding in the area of 1.3944 while the focus of investors' attention remains the May statistics on the US and Canadian labour markets, which were released to the market at the end of last week.

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).