USD/CAD Intraday Signal: Targeting 1.3995 as Downside Level
USD/CAD remains under bearish pressure while trading below the pivot resistance at 1.4040. Sellers are expected to keep control, targeting the next downside levels at 1.3995 and 1.3975 in extension. The pair’s inability to sustain above 1.4040 confirms weakness in short-term buying momentum and signals further downside potential.
Technically, the structure favors sellers as price continues to make lower highs. A clear break below 1.3995 would confirm renewed bearish momentum and accelerate the move toward 1.3975. Momentum indicators also lean bearish, with soft RSI readings and price action remaining under short-term moving averages, reflecting persistent downward bias.
Alternatively, a rebound above 1.4040 would neutralize the bearish view and open the path for a limited correction toward 1.4060 and 1.4080 before sellers reappear.
Trade Setup:
Enter: Short below 1.4040
Stop-Loss (SL): 1.4060
Target A: 1.3995
Target B: 1.3975
