USD/CAD Intraday Signal: Choppy Price Action with Bearish Bias Below 1.4045
USD/CAD is experiencing choppy intraday price action while remaining capped below the pivot resistance at 1.4045. Sellers continue to limit upside momentum, keeping a mild bearish bias intact as long as the pair trades beneath this level. The short-term structure suggests indecision but with a downward lean, with sellers targeting support levels at 1.4015 and 1.4000.
Momentum indicators reflect a mixed-to-weak tone — RSI shows limited buying strength, and the pair struggles to sustain momentum above its short-term moving averages. As long as 1.4045 acts as resistance, price fluctuations are likely to remain contained within a corrective range, favoring gradual downside movement toward 1.4000.
Alternatively, a break above 1.4045 would shift sentiment to neutral-to-bullish, paving the way for a move toward 1.4060 and 1.4080 before new selling pressure emerges.
Trade Setup:
Enter: Short below 1.4045
Stop-Loss (SL): 1.4060
Target A: 1.4015
Target B: 1.4000
