The pair may fall.

On the 4-hour chart, a downward correction of the higher level develops as the fourth wave (4), within which the wave C of (4) forms. Now, the fifth wave of the lower level v of C of (4) is developing, within which the formation of the wave (iii) of v has started. If the assumption is correct, the pair will fall to the levels of 1.3315–1.3189. In this scenario, critical stop loss level is 1.3625.

Today, during the Asian session, the USD/CAD pair shows ambiguous dynamics, testing the level of 1.3600 for a breakout. Yesterday, the US dollar was actively growing with the support of technical factors, retreating from its local lows since June 23.

Last week, the USD/CAD pair corrected down to reach 1.3549 (Murrey [3/8]) but today, the instrument tries to grow.

On Thursday, the pair showed an ambiguous dynamics amid the publication of mixed statistics from the United States.