USD/CAD Intraday Signal: Watch 1.4000 as Key Downside Target
USD/CAD is showing signs of downside pressure while trading below the pivot resistance at 1.4075. Sellers are expected to remain in control, targeting the next downside levels at 1.4000 and 1.3975 in extension. The pair has struggled to sustain momentum above 1.4075, suggesting that the pivot area continues to act as a strong technical barrier.
As long as 1.4075 holds as resistance, a move toward 1.4000 appears likely, with further weakness possible if bearish momentum increases. The RSI is softening from near-neutral territory, reflecting fading buying strength. A confirmed break below 1.4000 would strengthen the bearish case and open the door toward 1.3975.
Alternatively, a break above 1.4075 would shift the intraday bias to neutral or slightly bullish, paving the way for a move toward 1.4100 and 1.4125.
Trade Setup:
Enter: Short below 1.4075
Stop-Loss (SL): 1.4100
Target A: 1.4000
Target B: 1.3975