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  • USD/CAD stays under selling pressure below the 1.4000 level. 
  • Further weakness can be on the cards with bears eyeing the May’s lows.  

USD/CAD four-hour chart

USD/CAD is trading below the main SMAs on the four-hour chart as bears are keeping the market below the 1.4000 figure at the start of the new trading week. More weakness could see USD/CAD travelling south towards the 1.3880 level initially followed by the 1.3820 and 1.3760 levels. On the other hand, strong resistance is seen near the 1.4000 level. In case the spot breach this level, 1.4040 and 1.4080 can come into play in the medium-term.
Resistance: 1.3980, 1.4040, 1.4080
Support: 1.3880, 1.3820, 1.3760

Additional key levels