USD/CAD Asia Price Forecast: Greenback on the back foot vs. CAD, trades below 1.4100 figure

 

 

USD/CAD is evolving above its main SMAs on the daily chart suggesting an underlying bullish bias while the spot is currently consolidating the advance made in March. 

 

 

USD/CAD is trading under its main SMAs on the four-hour chart while being capped below the 1.4100 level. Bears are maintaining a degree of control and the 1.3985 support level could be challenged in the next sessions with the potential of a breakdown towards the 1.3850 and 1.3800 levels. Resistance can emerge near the 1.4070, 1.1415 and 1.4170 levels.