{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-bears-resume-selling-pressure-below-level-1-2600\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-bears-resume-selling-pressure-below-level-1-2600\/","headline":"USD\/Cad Declines as Bears Resume Selling Pressure below Level 1.2600","name":"USD\/Cad Declines as Bears Resume Selling Pressure below Level 1.2600","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move. The pair is retracing after rejection from level 1.2800. The current retracement is likely to reach the low of level 1.2500. Alternatively, USD\/CAD will find support above the 21-day SMA. The pair has already fallen to the low of level 1.2556. The upward movement will resume […]","datePublished":"2021-07-26","dateModified":"2021-07-26","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\/07\/USDCAD-FOREX-SCH-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/07\/USDCAD-FOREX-SCH-1.png","height":605,"width":987},"url":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-bears-resume-selling-pressure-below-level-1-2600\/","about":["Price Action Charts in Focus","Trade Idea","USD\/CAD"],"wordCount":249,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move. The pair is retracing after rejection from level 1.2800. The current retracement is likely to reach the low of level 1.2500. Alternatively, USD\/CAD will find support above the 21-day SMA. The pair has already fallen to the low of level 1.2556. The upward movement will resume as the market reaches bearish exhaustion. Meanwhile, on July 19 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates USD\/CAD will rise to level 2.0 Fibonacci extension or level 1.3269. USD\/CAD Indicator Analysis USD\/CAD is at level 57 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and has room to rally on the upside.USD\/CAD is above the 25% range of the daily stochastic. It indicates the currency pair is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward. The pair is in a bullish crossover.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 further decline before upward resumption. Meanwhile, on July 21 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates USD\/CAD will fall but reverse at level 1.272 Fibonacci extension or level 1.2457.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"}