USD/CAD Intraday Signal: Aiming for 1.3950 While Resistance Holds at 1.4010
USD/CAD remains under pressure while trading below the pivot resistance at 1.4010. Sellers dominate the short-term outlook, aiming for downside targets at 1.3970 and 1.3950 in extension. The failure to surpass 1.4010 confirms that supply continues to limit recovery attempts, maintaining a bearish tone across the intraday structure.
The short-term chart highlights lower highs and steady rejection from the resistance zone, suggesting further weakness ahead. Momentum indicators are leaning bearish, and as long as the pair remains below 1.4010, the risk of a drop below 1.3970 remains elevated. A decisive break beneath that level would likely open the path toward 1.3950 — the next significant support area.
Alternatively, a move above 1.4010 would invalidate the current bias and shift attention to 1.4030 and 1.4055 before new sellers potentially re-enter.
Trade Setup:
Enter: Short below 1.4010
Stop-Loss (SL): 1.4030
Target A: 1.3970
Target B: 1.3950
