{"id":6445,"date":"2025-12-24T14:26:01","date_gmt":"2025-12-24T11:26:01","guid":{"rendered":"https:\/\/31-preview.freshtone.ru\/breaching-1-373-support-paves-way-for-usdcad-drop-to-1-358\/"},"modified":"2025-12-24T14:26:01","modified_gmt":"2025-12-24T11:26:01","slug":"breaching-1-373-support-paves-way-for-usdcad-drop-to-1-358","status":"publish","type":"post","link":"https:\/\/31-preview.freshtone.ru\/en\/breaching-1-373-support-paves-way-for-usdcad-drop-to-1-358\/","title":{"rendered":"Breaching 1.373 support paves way for USDCAD drop to 1.358"},"content":{"rendered":"<p>The USDCAD currency pair continues to ride down following November\u2019s \u201cdouble top\u201d pattern on the daily chart, <a href=\"https:\/\/marketcheese.com\/forecast\/usdcad\/T0RVNU5B-double-top-could-send-usdcad-to-1-386-1-393\" rel=\"noopener noreferrer\" target=\"_blank\">in line with our previous predictions<\/a>. Last week, quotes hit a strong support level at <strong>1.373<\/strong>. Sellers loosened their grip there. Bulls attempted to rebound from this threshold but failed. Eventually, on December 23, bears seized the initiative and pushed the price under <strong>1.373<\/strong>. They are now targeting <strong>1.358<\/strong> and summer lows.<\/p>\n<p><\/p>\n<p>A \u201cdeath cross\u201d pattern emerged after yesterday\u2019s drop in <a href=\"https:\/\/marketcheese.com\/symbol\/usdcad\" rel=\"noopener noreferrer\" target=\"_blank\">USDCAD<\/a>, with the 50-day exponential moving average piercing through the 200-day one down below. Meanwhile, the <strong>Stochastic <\/strong>Oscillator keeps supporting the bearish sentiment, forcing investors to take the pair off their hands. The <strong>RSI <\/strong>Indicator, on the other hand, is just an arm\u2019s length away from oversold territory, meaning that the current decline could slow. However, this is not necessarily bad news, as sellers may strive for a little break after digging below <strong>1.373<\/strong>. Furthermore, market liquidity typically falls during Christmas holidays.<\/p>\n<p><\/p>\n<p>Interestingly, the greenback is now losing ground even amid resilient economic statistics. <a href=\"https:\/\/marketcheese.com\/indicator\/us-gdp-qoq\" rel=\"noopener noreferrer\" target=\"_blank\">Yesterday\u2019s GDP data for the third quarter (Q3) showed an increase of 4.3%<\/a>, which significantly exceeded expert forecasts of 3.3%. These positive readings, however, proved nothing to US President Donald Trump. The politician once again stated that current interest rates are too high. He also said that intends to appoint a more dovish Federal Reserve (Fed) Chair next year.<\/p>\n<p><\/p>\n<p>Unlike the Fed, the Bank of Canada (BoC) is under less pressure, allowing officials to consider a wider range of options for future monetary policy. The minutes from the BoC\u2019s latest meeting, released on December 23, revealed that any move is possible, whether up or down. <a href=\"https:\/\/marketcheese.com\/indicator\/ca-boc-interest-rate-decision\" rel=\"noopener noreferrer\" target=\"_blank\">Analysts polled by Reuters expect the central bank to raise interest rates in October 2026<\/a>. Until then, borrowing costs are projected to remain unchanged. Such forecasts make short positions on USDCAD increasingly attractive.<\/p>\n<p><\/p>\n<p><\/p>\n<p>Keep in mind the following trading plan:<\/p>\n<p><\/p>\n<p><strong>Sell USDCAD below the 1.37 level, with Take profit at 1.358 and Stop loss at 1.373.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market analysis by financial analysts and experienced traders. Forecast for USDCAD.<\/p>\n","protected":false},"author":1,"featured_media":6446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-forecasts"],"translation":{"provider":"WPGlobus","version":"2.12.2","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":true},"en":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Breaching 1.373 support paves way for USDCAD drop to 1.358 - Ciraxes<\/title>\r\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Breaching 1.373 support paves way for USDCAD drop to 1.358 - 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