USD/CAD Intraday Signal: 1.3810 Expected
Analysis:
USD/CAD trades with a bearish intraday bias while remaining capped below the pivot resistance at 1.3855. Sellers continue to defend this level, favoring a corrective move toward 1.3810, followed by the extended downside target at 1.3790. Price action shows repeated rejection near resistance, reinforcing the downside scenario.
As long as 1.3855 acts as a ceiling, the probability of a pullback toward 1.3810 remains elevated. The short-term structure suggests that rebounds are likely to be limited unless buyers reclaim the pivot decisively.
Alternatively, a sustained break above 1.3855 would invalidate the bearish setup and open the path toward 1.3880 and 1.3900, where higher resistance levels are located.
Trade Setup:
Enter: Short below 1.3855
Stop-Loss (SL): 1.3880
Target A: 1.3810
Target B: 1.3790
