{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-consolidates-above-level-1-2600-uptrend-is-likely\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-consolidates-above-level-1-2600-uptrend-is-likely\/","headline":"USD\/CAD Consolidates Above Level 1.2600, Uptrend Is Likely","name":"USD\/CAD Consolidates Above Level 1.2600, Uptrend Is Likely","description":"USD\/CAD Long-Term Analysis: RangingUSD\/CAD pair is presently consolidating above level 1.2600. On September 3, the pair fell to the low of level 1.2493 as bulls bought the dips. USD\/CAD rebounded to reach the high of level 1.2762. The upward move was interrupted as the pair fell to a range-bound move above level 1.2600. As price […]","datePublished":"2021-09-18","dateModified":"2021-09-18","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/USDCADDaily-Chart-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/USDCADDaily-Chart-2.png","height":586,"width":930},"url":"https:\/\/forexschoolonline.com\/usd-cad-consolidates-above-level-1-2600-uptrend-is-likely\/","about":["FX Technical Analysis","USD\/CAD"],"wordCount":265,"articleBody":"USD\/CAD Long-Term Analysis: RangingUSD\/CAD pair is presently consolidating above level 1.2600. On September 3, the pair fell to the low of level 1.2493 as bulls bought the dips. USD\/CAD rebounded to reach the high of level 1.2762. The upward move was interrupted as the pair fell to a range-bound move above level 1.2600. As price consolidates, a breakout or breakdown can easily occur. Meanwhile, on September 8 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that USD\/CAD will rise to level 2.0 Fibonacci extension or level 1.3023.USD\/CAD Indicator Analysis The crypto\u2019s price is above the 21-day and 50-day SMAs suggesting a possible upward move. USD\/CAD is at level 53 of the Relative Strength Index period 14. It indicates that the market is in the uptrend zone and above the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. USD\/CAD is above the 25% range of the daily stochastic. The market is in a bullish momentum.USD\/CAD – Daily ChartTechnical indicators: Major Resistance Levels \u2013 1.3300, 1.3400, 1.3500Major Support Levels \u2013 1.2300, 1.2200, 1.2100What Is the Next Direction for USD\/CAD?USD\/CAD is likely to resume upward after the range-bound move. Presently, the currency pair is fluctuating between levels 1.2620 and 1.2700. The uptrend will resume if price is above level 1.2700. Presently, the pair is trading in the middle of price range. A breakout will push the pair above level 1.3000.USD\/CAD \u2013 4 Hour ChartNote: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results"}