USD/CAD Intraday Signal: Under Pressure Below 1.3670
Analysis:
USD/CAD trades under pressure on an intraday basis while remaining capped below the pivot resistance at 1.3670. Price action is expected to stay choppy, but with a bearish tilt, as sellers continue to defend the resistance zone. The downside focus is on 1.3620, followed by the main target at 1.3595 in extension.
As long as 1.3670 holds as resistance, upside attempts are likely to be limited and corrective. The short-term structure favors gradual downside continuation rather than a sharp impulsive move, consistent with the current choppy conditions.
Alternatively, a sustained break above 1.3670 would weaken the bearish setup and open the path toward 1.3690 and 1.3705, where higher resistance levels are located.
Trade Setup:
Enter: Short below 1.3670
Stop-Loss (SL): 1.3690
Target A: 1.3620
Target B: 1.3595