Yesterday, when corrective sentiments were observed in the market after a sharp rise at the end of last week, the USD/CAD pair retreated from local highs but today, during the Asian session it is growing again.

Against USD strengthening, the USD/CAD pair grows, trading at the level of 1.2468.

The pair may fall.

On the daily chart, the downward wave of the higher level (C) of 4 develops, within which the fifth wave 5 of (C) forms. Now, the fifth wave of the lower level v of 5 is developing, within which the wave (iii) of v has formed, and a local correction is ending to develop as the wave (iv) of v. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 1.1900–1.1800. In this scenario, critical stop loss level is 1.2332.