{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-buyers-recoup-above-1-3508-low\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-buyers-recoup-above-1-3508-low\/","headline":"USD\/CAD Declines as Buyers Recoup Above 1.3508 Low","name":"USD\/CAD Declines as Buyers Recoup Above 1.3508 Low","description":"USD\/CAD Long-Term Analysis: BullishUSD\/CAD is in a sideways trend as buyers recoup above the 1.3508 low. On September 30 uptrend; the bullish momentum was terminated at the high of level 1.3800. Buyers could not sustain the current uptrend. On October 4, the bears pushed the pair to the low of level 1.3502. The uptrend resumed […]","datePublished":"2022-10-27","dateModified":"2022-10-27","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\/2022\/10\/USDCADDaily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/10\/USDCADDaily-Chart.png","height":536,"width":1017},"url":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-buyers-recoup-above-1-3508-low\/","about":["FX Technical Analysis","Price Action Charts in Focus","Trade Idea","USD\/CAD"],"wordCount":281,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BullishUSD\/CAD is in a sideways trend as buyers recoup above the 1.3508 low. On September 30 uptrend; the bullish momentum was terminated at the high of level 1.3800. Buyers could not sustain the current uptrend. On October 4, the bears pushed the pair to the low of level 1.3502. The uptrend resumed as bulls bought the dips. The pair rallied to the high of level 1.3977 but faced another selling pressure at the recent high. Today, USD\/CAD has fallen to the low of level 1.3507 and has resumed fluctuation between the moving average lines. The currency pair will trend again when the moving average lines are breached.USD\/CAD Indicator Analysis USD\/CAD is at level 50 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The price bars are between the moving average lines, which indicate that the pair will be in a range-bound move for a few days. It is in a bullish momentum above the 50% range of the daily Stochastic.USD\/CAD \u2013 Daily ChartTechnical indicators: Major Resistance Levels \u2013 1.3800, 1.3900, 1.4000Major Support Levels \u2013 1.3400, 1.3300, 1.3200What Is the Next Direction for USD\/CAD? USD\/CAD is in a downtrend as buyers recoup above the 1.3508 low. The pair is correcting upward to retest the moving average lines. On October 21 downtrend, the pair corrected upward and a candle body tested the 61.8% Fibonacci retracement level. The correction implies that USD\/CAD will fall to level 1.618 Fibonacci Fibonacci extension or level 1.3508.USD\/CAD \u2013 4 Hour Chart Note: 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"}