USD/CAD Intraday outlook

• Pair is currently supported below 1.40 marks and trading at 1.3975 levels.
   
• It made intraday high at 1.3999 and low at 1.3882 levels.
   
• Intraday bias remains bearish below 1.4102 marks.
   
• Above 1.4102 key resistance levels will turn bias back to the upside for retesting 1.4679 high first.
   
• Alternatively, reversal from 1.40 marks may take the parity towards 1.36 and 1.3282 thereafter.
   
• Major support levels are seen at 1.3820, 1.3735 and 1.3655 levels.
   
• On the top side, resistance levels are seen at 1.4001, 1.4093 and 1.4102 marks.

We prefer to take short position in USD/CAD around 1.40, stop loss 1.4102 and target 1.3820 levels.