USD/CAD Intraday Signal: Targeting 1.4045 as Downside Momentum Builds
USD/CAD is under short-term bearish pressure while trading below the pivot resistance at 1.4105. Sellers are dominating the intraday structure, targeting 1.4045 and 1.4030 in extension. The recent rejection near 1.4105 confirms that upside attempts are being capped, with momentum shifting in favor of bears.
The RSI calls for a drop, signaling growing selling pressure and a weakening of bullish momentum. Price action has also slipped below short-term averages, reinforcing the potential for further downside. A clear break below 1.4045 would likely accelerate losses toward 1.4030, extending the corrective phase.
Alternatively, a move above 1.4105 would invalidate the immediate bearish outlook and open the way toward 1.4125 and 1.4140 before new sellers potentially reappear.
Trade Setup:
Enter: Short below 1.4105
Stop-Loss (SL): 1.4125
Target A: 1.4045
Target B: 1.4030
