USD/CAD Intraday Signal: Toward 1.4110 as RSI Calls for a Bounce
USD/CAD is showing signs of recovery while holding above the pivot level at 1.4020. Buyers are regaining momentum, targeting resistance levels at 1.4085 and 1.4110 in extension. The short-term structure suggests the potential for a rebound, with price action stabilizing near support and forming higher lows on the intraday chart.
Momentum indicators confirm this improving sentiment — the RSI has turned upward, signaling a bounce from oversold conditions, while price remains steady above short-term averages. A move above 1.4085 would further strengthen bullish momentum and confirm the continuation of the recovery toward 1.4110.
Alternatively, a break below 1.4020 would weaken the bullish setup and expose supports at 1.4000 and 1.3970 before potential buyers reappear.
Trade Setup:
Enter: Long above 1.4020
Stop-Loss (SL): 1.4000
Target A: 1.4085
Target B: 1.4110