A fall is possible.
On the weekly chart the downward correctional wave of the higher level 4 develops, within which the wave (C) of 4 forms. Now, the first wave of the lower level 1 of (C) has formed, a local correction has ended as the wave 2 of (C), and the third wave 3 of (C) has started. If the assumption is correct, the USD/CAD pair will fall to the area of 1.2374–1.2010. In this scenario, critical stop loss level is 1.3224.