USD/CAD Intraday Signal: Downside Prevails Below 1.4060
The USD/CAD pair is under renewed bearish pressure, capped by the key resistance level at 1.4060. Price action suggests sellers are regaining control as the pair fails to sustain gains above this pivot. The RSI supports this view, showing a downward turn that signals the beginning of a new downleg, while momentum indicators confirm weakening bullish strength.
Trading below 1.4060, the pair is expected to move lower toward 1.4005 and 1.3985 — key support levels where buyers may attempt to defend. Any decisive break beneath 1.3985 could trigger further downside continuation.
Conversely, a rebound above 1.4060 would invalidate the bearish setup and open the path for a short-term recovery toward 1.4080 and 1.4100, though overall sentiment remains negative unless the pivot is clearly broken.
Enter: Short below 1.4060
Stop-Loss (SL): 1.4080
Target A: 1.4005
Target B: 1.3985
