USDCAD Intraday Signal: Selling Pressure Under 1.3600 Resistance
Analysis
USDCAD on the 1-hour timeframe recently experienced a strong bearish impulse after failing to sustain price above the 1.3700 supply zone. This rejection created a clear break of structure (BOS) to the downside and pushed the market toward the 1.3530 liquidity area, where a temporary weak low was formed.
Following this decline, price started a corrective move upward. The recovery brought the pair back toward the 1.3590–1.3600 supply zone, which previously acted as intraday resistance. This area now represents a potential liquidity pocket where sellers may re-enter the market.
Currently, USDCAD is trading around 1.3569, still below the resistance region. The structure of the market remains bearish, with lower highs forming after the previous impulse move. The current upward movement appears to be a retracement toward supply, rather than a full bullish reversal.
If price fails to break above 1.3600, selling pressure could resume. The first downside target lies near 1.3530, which is the nearest liquidity level and recent weak low. If bearish momentum strengthens, the pair may extend the decline toward the 1.3510 demand zone, where stronger buying interest previously appeared.
As long as the market remains below 1.3600, the intraday bias favors bearish continuation.
Trade Setup
Enter: Sell below 1.3560
Stop-Loss (SL): 1.3615
Target A: 1.3530
Target B: 1.3510
