{"id":211754,"date":"2023-12-13T13:46:18","date_gmt":"2023-12-13T08:16:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=211754"},"modified":"2023-12-13T13:46:18","modified_gmt":"2023-12-13T08:16:18","slug":"hovers-below-1-3600-on-downbeat-oil-prices-fed-decision-eyed-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/hovers-below-1-3600-on-downbeat-oil-prices-fed-decision-eyed-crypto-news\/","title":{"rendered":"Hovers below 1.3600 on downbeat oil prices, Fed decision eyed &#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 grapples to extend its gains on the back of subdued Crude oil prices.<\/strong><\/li>\n<li><strong>A firm breakthrough above 1.3600 could lead the pair to reach a 21-day EMA at 1.3620.<\/strong><\/li>\n<li><strong>14-day RSI lies below the 50 mark; the 1.3550 level could act as key support.<\/strong><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/usdcad\">USD\/CAD<\/a> struggles to extend its gains for the second successive day while US Dollar (USD) stays in the positive territory. The downbeat <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/markets\/commodities\/energy\/oil\">Crude oil prices<\/a> reinforce the downward pressure on the Canadian Dollar (CAD). The USD\/CAD pair trades higher around 1.3590 during the European session on Wednesday.<\/p>\n<p>The USD\/CAD pair finds the psychological level at 1.3600 as a key barrier. A firm break above the latter could inspire the bulls of the USD\/CAD pair to explore the 21-day Exponential Moving Average (EMA) at 1.3620 followed by the 38.2% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/support-resistance\/fibonacci\">Fibonacci<\/a> retracement level at 1.3840 before the major resistance at 1.3650 level.<\/p>\n<p>The technical indicator Moving Average Convergence Divergence (MACD) for the USD\/CAD pair signals a potential bullish trend reversal. MACD line lies below the centerline and crosses above the signal line. The crossover above the signal line suggests that the shorter-term moving average is gaining strength relative to the longer-term moving average, indicating a shift towards positive momentum in the pair.<\/p>\n<p>However, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/analysis\">analysis<\/a> suggests a dovish sentiment for the USD\/CAD pair, with the 14-day Relative Strength Index (RSI) below 50. This implies a weakness in the pair, and it could lose ground. The mentioned support levels, including the major level around 1.3550 and the psychological support at 1.3500, are crucial markers to watch.<\/p>\n<p>If the USD\/CAD pair breaks below the latter, it might encounter further bearish pressure, potentially navigating toward the region around the previous week&#8217;s low at 1.3480.<\/p>\n<h2 class=\"fxs_headline_medium\">USD\/CAD: Daily Chart<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638380511403601968.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CAD grapples to extend its gains on the back of subdued Crude oil prices. A firm breakthrough above 1.3600 could lead the pair to reach a 21-day EMA at 1.3620. 14-day RSI lies below the 50 mark; the 1.3550 level could act as key support. USD\/CAD struggles to extend its gains for the second [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":9061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,496,251,246,257,255,250,277,252,247,253,249,308,498,256,254],"class_list":["post-211754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-canada","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-usdcad","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/211754","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=211754"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/211754\/revisions"}],"predecessor-version":[{"id":211755,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/211754\/revisions\/211755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/9061"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=211754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=211754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=211754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}