USD/CAD Intraday Signal: Watch 1.4010 as Key Resistance
USD/CAD shows a potential intraday bearish bias as long as price remains below the key resistance at 1.4010. Sellers could target support levels at 1.3955 and 1.3935 in extension. The price action is likely to remain choppy near the pivot, but a break below 1.4010 would favor further downside momentum.
Momentum indicators suggest that the market may face renewed selling pressure if resistance at 1.4010 holds. A decisive drop below this level would confirm the bearish scenario, targeting 1.3955 and 1.3935 as the next support zones.
Alternatively, a break above 1.4010 would invalidate the bearish setup and open the path toward 1.4030 and 1.4050.
Trade Setup:
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Enter: Short below 1.4010
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Stop-Loss (SL): 1.4030
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Target A: 1.3955
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Target B: 1.3935