USD/CAD Intraday Signal: Further Advance Above 1.4060
USD/CAD is extending its bullish momentum while trading above the pivot level at 1.4060. Buyers are maintaining control, eyeing resistance levels at 1.4110 and 1.4140 in extension. The short-term structure remains constructive, supported by steady higher lows and growing demand near the 1.4060 support zone.
The RSI calls for a bounce, confirming a recovery in buying pressure after recent consolidation. Price action also remains above short-term moving averages, signaling that the bullish bias is intact. A clear breakout above 1.4110 would open the path toward 1.4140, validating continued upside movement.
Alternatively, a drop below 1.4060 would challenge the immediate bullish scenario and expose supports at 1.4040 and 1.4020 before potential demand reappears. Until then, buying on dips remains the favored strategy.
Trade Setup:
Enter: Long above 1.4060
Stop-Loss (SL): 1.4040
Target A: 1.4110
Target B: 1.4140