USDCAD Intraday Signal: Bearish Continuation Toward 1.3500
Analysis:
USDCAD on the 1-hour timeframe has shifted into a clear bearish market structure after multiple Break of Structure (BOS) signals to the downside. The pair failed to maintain momentum above the 1.3700 supply zone, leading to sustained selling pressure and a sequence of lower highs and lower lows.
The recent impulsive move downward broke several intraday support levels and pushed price toward 1.3550, where the market is currently consolidating. This area represents a temporary pause after strong selling momentum rather than a confirmed reversal.
Above the current price, the 1.3600–1.3620 zone acts as the nearest supply and liquidity area. If price retraces into this zone, sellers are likely to re-enter the market. As long as the pair remains below 1.3600, the bearish structure remains intact.
On the downside, the next key liquidity area lies near 1.3520, followed by the 1.3500 psychological level, which aligns with a broader demand zone visible on the chart. A continuation toward these levels would complete the current bearish leg.
Trade Setup:
Enter: Sell below 1.3570
Stop-Loss (SL): 1.3620
Target A: 1.3520
Target B: 1.3500
