The USD/CAD pair is trading in an upward trend at 1.4215, supported by fundamental and monetary factors.

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 four-hour chart, the first impulse wave of the lower degree, 1 of (3), is developing, while wave iii of 1 is also unfolding. If this scenario proves correct, the USD/CAD pair’s upward trend is expected to continue toward the 1.4540–1.4790 zone, with a critical stop loss level at 1.4021.

During the morning session, the USD/CAD pair is developing yesterday’s upward momentum and testing 1.4230 for a breakout, while investors await the emergence of new drivers for movement.

The USD/CAD pair was steadily growing during the last two months, reaching the year’s highs around 1.4250 last week. However, the price has corrected slightly towards 1.4194 amid mutual attacks between the US and Iran.