{"id":263458,"date":"2024-03-12T14:05:25","date_gmt":"2024-03-12T08:35:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=263458"},"modified":"2024-03-12T14:05:25","modified_gmt":"2024-03-12T08:35:25","slug":"drops-to-near-1-3470-followed-by-the-major-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/drops-to-near-1-3470-followed-by-the-major-support-crypto-news\/","title":{"rendered":"Drops to near 1.3470 followed by the major support &#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 could test the major support of 1.3450 on Tuesday.<\/strong><\/li>\n<li><strong>Technical analysis suggests a momentum shift in the trend.<\/strong><\/li>\n<li><strong>The key resistance zone could appear around the psychological level of\u00a01.3500 and a nine-day EMA of\u00a01.3506.<\/strong><\/li>\n<\/ul>\n<p>USD\/CAD extends its losses for the second session, edging lower to near 1.3470 during the European session on Tuesday. The cautious sentiment prevails ahead of the release of the Consumer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\" data-fxs-autoanchor=\"\">Price Index<\/a> (CPI) data from the United States (US).<\/p>\n<p>The USD\/CAD pair could find key support at the major level of 1.3450, followed by the 38.2% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/support-resistance\/fibonacci\" data-fxs-autoanchor=\"\">Fibonacci<\/a> retracement level of 1.3442. A break below this level could put downward pressure on the pair to navigate the support region around the previous week\u2019s low of 1.3419 and psychological level of 1.3400.<\/p>\n<p>The technical analysis of the 14-day Relative Strength Index (RSI) is positioned below 50, suggesting bearish momentum for the USD\/CAD pair. However, Moving Average Convergence Divergence (MACD) indicates a momentum shift for the USD\/CAD pair. This interpretation is based on the MACD line&#8217;s position above the centerline but shows divergence below the signal line. Traders would likely await the MACD, the lagging indicator, to confirm a directional trend.<\/p>\n<p>On the upside, the immediate resistance appears at the psychological level of 1.3500 and the nine-day Exponential Moving Average (EMA) at 1.3506. A break above the latter could exert upward support for the USD\/CAD pair to test the major level of 1.3550, aiming to navigate the region around the psychological level of 1.3600, aligned with March\u2019s high of 1.3605.<\/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\/_USD_CAD_2024-03-12_13-28-53-638458271392270873.png\"><\/a><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: USD\/CAD could test the major support of 1.3450 on Tuesday. Technical analysis suggests a momentum shift in the trend. The key resistance zone could appear around the psychological level of\u00a01.3500 and a nine-day EMA of\u00a01.3506. USD\/CAD extends its losses for the second session, edging lower to near 1.3470 during the European session on Tuesday. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7489,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,277,252,247,253,249,308,498,256,254],"class_list":["post-263458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","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\/263458","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=263458"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/263458\/revisions"}],"predecessor-version":[{"id":263459,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/263458\/revisions\/263459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7489"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=263458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=263458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=263458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}