{"id":7263,"date":"2026-03-24T06:58:42","date_gmt":"2026-03-24T03:58:42","guid":{"rendered":"https:\/\/31-preview.freshtone.ru\/usdcad-selloff-comes-into-play-upon-breaking-1-3700\/"},"modified":"2026-03-24T06:58:42","modified_gmt":"2026-03-24T03:58:42","slug":"usdcad-selloff-comes-into-play-upon-breaking-1-3700","status":"publish","type":"post","link":"https:\/\/31-preview.freshtone.ru\/en\/usdcad-selloff-comes-into-play-upon-breaking-1-3700\/","title":{"rendered":"USDCAD selloff comes into play upon breaking 1.3700"},"content":{"rendered":"<p>As of March 23, 2026, <a href=\"https:\/\/marketcheese.com\/symbol\/usdcad\" rel=\"noopener noreferrer\" target=\"_blank\">USDCAD<\/a> is clawing its way higher in a corrective uptrend after bottoming out at 1.3699. Both technical and wave analysis paint a picture of a tug-of-war: bulls are aggressively pushing to secure gains and consolidate above the iconic psychological milestone of 1.3700, transforming it from a ceiling into a potential new floor.<\/p>\n<p>The spark behind the pair&#8217;s rally is the Dollar Index (DXY), which climbed to 99.74\u2014a reminder that the greenback still has some fight left. But here is the twist: the DXY is now facing a stubborn resistance zone between 100.15 and 100.30, a battleground that has sent it packing more than once before.<\/p>\n<p>Looking at this week&#8217;s wave setup (March 20\u201327), a local correction appears to be unfolding within a larger uptrend. If the pair fails to stay above 1.3725, a reversal wave could gain traction, targeting a dip back to 1.3625. Conversely, a clean bounce from 1.3700 would be the starting gun for a fresh impulse toward 1.38 and beyond.\u00a0<\/p>\n<p>Fundamentally, the Bank of Canada (BoC) stepped into the spotlight on March 18, keeping interest rates steady at 2.25% and effectively closing the book on its aggressive easing cycle. Such a move gives the loonie some much-needed stability\u2014and puts a lid on how far USDCAD can stretch.<\/p>\n<p>Oil adds an extra layer of drama. Sky-high volatility in energy markets, fueled by the raging Middle East conflict, continues to prop up the Canadian dollar as a major exporter. With Brent hovering near its highs, elevated crude prices act like a heavy anchor, preventing the pair from breaking out of its current channel.\u00a0<\/p>\n<p><\/p>\n<p><strong>The ultimate recommendation<\/strong> is to sell USDCAD upon breaching 1.3700. Place Take Profit at 1.3665. Set Stop Loss at 1.3730.<\/p>\n<p><\/p>\n<p>Calculate your open position so that a potential loss (protected by a Stop Loss order) is limited to 1% of your deposit. If your account balance does not allow entering a position of this size, it is better to skip the trade and wait for other market signals that meet low-risk criteria.<\/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":7264,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-7263","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>USDCAD selloff comes into play upon breaking 1.3700 - 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=\"USDCAD selloff comes into play upon breaking 1.3700 - 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