USD/CAD Intraday Signal: Caution Below 1.3795
Analysis:
USD/CAD trades with a cautious bearish intraday tone while remaining below the pivot resistance at 1.3795. Sellers have a slight advantage, targeting 1.3760 initially and 1.3745 in extension. However, price action lacks strong directional commitment, suggesting potential choppy movement around current levels.
Intraday technical indicators are mixed, which calls for prudent trade management. As long as 1.3795 caps the upside, downside risk remains present, but follow-through may be gradual rather than impulsive. A sustained break below 1.3760 would strengthen the bearish continuation toward 1.3745.
Alternatively, a move above 1.3795 would invalidate the bearish setup and open the path toward 1.3810 and 1.3825, where higher resistance levels await.
Trade Setup:
Enter: Short below 1.3795
Stop-Loss (SL): 1.3810
Target A: 1.3760
Target B: 1.3745