{"id":160355,"date":"2023-09-21T23:40:18","date_gmt":"2023-09-21T18:10:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=160355"},"modified":"2023-09-21T23:40:18","modified_gmt":"2023-09-21T18:10:18","slug":"usd-cad-facing-further-downside-after-rejecting-1-3520-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/usd-cad-facing-further-downside-after-rejecting-1-3520-crypto-news\/","title":{"rendered":"USD\/CAD facing further downside after rejecting 1.3520 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>USD\/CAD seeing mid-Thursday rejection from the topside as Greenback pauses.<\/strong><\/li>\n<li><strong>Oil-based CAD getting bolstered by rebounding oil prices.<\/strong><\/li>\n<li><strong>US PMIs, CAD Retail Sales still in the pipe for Friday.<\/strong><\/li>\n<\/ul>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">USD\/CAD<\/a> lifted in early Thursday trading, clipping into 1.3520 before seeing a clean rejection, and is\u00a0now trading down into 1.3475 as the Greenback (USD) takes a breather\u00a0and the Loonie (CAD) finds support from bouncing <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/energy\/oil\">crude oil prices<\/a>.<\/p>\n<p>The oil-based Loonie is finding some minor support from crude prices heading into the end of the week, rebounding after the USD caught a firm bid across the board after Thursday&#8217;s Federal Reserve (Fed) rate call. The Fed stood still on interest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/rates\">rates<\/a>, but a rising rate <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">outlook<\/a> firmed up the chances of another rate hike before the end of the year.<\/p>\n<p>On the economic calendar, Friday comes in with CAD <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Retail Sales<\/a> and US Purchasing Manager Index (PMI) figures.<\/p>\n<h2 class=\"fxs_headline_medium\">CAD retail sales, US PMIs both seen improving<\/h2>\n<p>Canadian retail sales from July are forecast to see confirmed month-over-month growth of 0.4%, an uptick from the previous period&#8217;s 0.1%.<\/p>\n<p>On the US side, PMIs are expected to improve slightly, with the manufacturing component forecast to lift\u00a0from 47.9 to 48.0, and the services side moving from 50.5 to 50.6.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD technical outlook<\/h2>\n<p>The USD\/CAD has been catching bids ever since the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/fed\">Fed<\/a> release yesterday, taking the pair up nearly a full percent bottom-to-top, before running aground on the 200-hour Simple Moving Average (SMA) near 1.3520.<\/p>\n<p>The pair is now set to fall further, declining past the 100-hour SMA and looking at the top side of the descending intraday trendline, marked in from 1.3580.<\/p>\n<p>On the daily candlesticks, the USD\/CAD is looking for a rebound from the 34-day Exponential Moving Average (EMA) near 1.3400, and is getting hung up on the 200-day SMA close to the current price action.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD daily chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD technical levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CAD seeing mid-Thursday rejection from the topside as Greenback pauses. Oil-based CAD getting bolstered by rebounding oil prices. US PMIs, CAD Retail Sales still in the pipe for Friday. The USD\/CAD lifted in early Thursday trading, clipping into 1.3520 before seeing a clean rejection, and is\u00a0now trading down into 1.3475 as the Greenback (USD) [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,276,255,250,683,252,247,253,249,498,256,254],"class_list":["post-160355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-gta","tag-looks-rare","tag-oil","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=160355"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160355\/revisions"}],"predecessor-version":[{"id":160356,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/160355\/revisions\/160356"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8177"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=160355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=160355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=160355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}