{"id":126177,"date":"2026-04-23T11:50:46","date_gmt":"2026-04-23T07:50:46","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126177"},"modified":"2026-04-23T11:50:48","modified_gmt":"2026-04-23T07:50:48","slug":"cad-fightback-is-the-loonie-set-to-regain-lost-ground-23-4-2026","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/cad-fightback-is-the-loonie-set-to-regain-lost-ground-23-4-2026\/04\/23\/tech-analysis\/","title":{"rendered":"CAD Fightback: Is the Loonie Set to Regain Lost Ground? 23\/4\/2026"},"content":{"rendered":"\n<p>The USD\/CAD pair is gradually declining within a bearish context, reaching its lowest level during early trading today around <strong>1.3643<\/strong>.<\/p>\n\n\n\n<p><strong>Technical Outlook \u2013 4-Hour Timeframe:<\/strong><\/p>\n\n\n\n<p>The simple moving averages on shorter timeframes have returned to exert downward pressure on price action, establishing a dynamic resistance level. On the other hand, the <strong>Relative Strength Index (RSI)<\/strong> has reached oversold territory, which may enhance the possibility of a temporary upward correction that does not contradict the broader daily downtrend.<\/p>\n\n\n\n<p><strong>Likely Scenario:<\/strong><\/p>\n\n\n\n<p>If daily trading remains above <strong>1.3660<\/strong>, we may see a retest of <strong>1.3690<\/strong> and then <strong>1.3720<\/strong>, respectively. Conversely, if trading remains below <strong>1.3660<\/strong>, the pair is expected to resume its official downward trajectory, targeting <strong>1.3590<\/strong> as an initial objective.<\/p>\n\n\n\n<p id=\"p-rc_a217da8041556dc6-88\"><strong>Note:<\/strong> Today, April 23, 2026, the pair faces potential volatility from high-impact data. In the U.S., <strong>Initial Jobless Claims<\/strong> (forecasted at 212K) and <strong>Flash PMI<\/strong> data are in focus.<sup><\/sup> Meanwhile, the market is closely monitoring Canada&#8217;s economic health ahead of tomorrow\u2019s retail sales release, all while navigating the geopolitical uncertainty surrounding the <strong>Strait of Hormuz<\/strong> and the expiration of the U.S.-Iran ceasefire.<\/p>\n\n\n\n<p><strong>Caution:<\/strong> The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.<\/p>\n\n\n\n<p><strong>Risk note<\/strong><br>Headline risk is elevated. Use prudent sizing and firm stops; reassess quickly if these trigger levels give way.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>S1: <\/strong>1.3650<\/td><td><strong>R1: <\/strong>1.3690<\/td><\/tr><tr><td><strong>S2:\u00a0<\/strong>1.3615<\/td><td><strong>R2: <\/strong>1.3740<\/td><\/tr><tr><td><strong>S3: <\/strong>1.3590<\/td><td><strong>R3: <\/strong>1.3770<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The USD\/CAD pair is gradually declining within a bearish context, reaching its lowest level during early trading today around 1.3643. Technical Outlook \u2013 4-Hour Timeframe: The simple moving averages on shorter timeframes have returned to exert downward pressure on price action, establishing a dynamic resistance level. On the other hand, the Relative Strength Index (RSI) &hellip;<\/p>\n","protected":false},"author":9,"featured_media":126187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[42,41],"tags":[6889,7770],"class_list":["post-126177","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-tech-analysis","category-tech-analysis","tag-cad","tag-fomc-minutes"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126177"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126177\/revisions"}],"predecessor-version":[{"id":126188,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126177\/revisions\/126188"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/126187"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}