USD/CAD Intraday Signal: Key Resistance at 1.3975 Limits Upside
Analysis:
USD/CAD maintains a bearish intraday bias as long as price remains capped below the key resistance at 1.3975. Sellers are expected to target 1.3935 and 1.3915 in extension. Market structure suggests weakening upward momentum, with price consistently failing to break above the pivot level, indicating strong resistance pressure.
The comment reinforces this view, noting that the upward potential is likely to be limited while the pair trades below 1.3975. As long as the resistance holds, bearish continuation remains the more probable scenario. A decisive move below 1.3935 would confirm accelerating downside momentum toward 1.3915.
Alternatively, a breakout above 1.3975 would invalidate the bearish outlook and open the path toward 1.3995 and 1.4015, where further resistance awaits.
Trade Setup:
Enter: Short below 1.3975
Stop-Loss (SL): 1.3995
Target A: 1.3935
Target B: 1.3915