USD/CAD Intraday Signal: 1.3535 in Sight
Analysis:
USD/CAD maintains a bearish intraday bias while trading below the pivot resistance at 1.3580. Sellers remain in control, targeting 1.3535 initially, with scope for further downside extension toward 1.3505. Price action continues to respect resistance, reinforcing the downside scenario.
Market structure suggests that a decisive break below 1.3535 would accelerate selling pressure and trigger a move toward 1.3505, confirming bearish continuation. As long as price stays capped below 1.3580, rebounds are expected to remain limited and corrective.
Alternatively, a sustained move above 1.3580 would weaken the bearish setup and open the path toward 1.3600 and 1.3630, where higher resistance levels are located.
Trade Setup:
Enter: Short below 1.3580
Stop-Loss (SL): 1.3600
Target A: 1.3535
Target B: 1.3505