{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-price-revisits-the-previous-low-at-1-2020\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-price-revisits-the-previous-low-at-1-2020\/","headline":"USD\/CAD Declines as Price Revisits the Previous Low at $1.2020","name":"USD\/CAD Declines as Price Revisits the Previous Low at $1.2020","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is now in a downward move as price breaks below the moving averages. The breaking of the moving averages signals the resumption of a downtrend. Meanwhile, on August 25 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USD\/CAD will rise but will reverse at […]","datePublished":"2021-09-04","dateModified":"2021-09-04","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\/USDCAD_2021-09-03_18-57-07.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/09\/USDCAD_2021-09-03_18-57-07.png","height":571,"width":977},"url":"https:\/\/forexschoolonline.com\/usd-cad-declines-as-price-revisits-the-previous-low-at-1-2020\/","about":["Price Action Charts in Focus"],"wordCount":250,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is now in a downward move as price breaks below the moving averages. The breaking of the moving averages signals the resumption of a downtrend. Meanwhile, on August 25 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USD\/CAD will rise but will reverse at level 1.272 Fibonacci extension or level 1.2457. USD\/CAD Indicator Analysis USD\/CAD has fallen to level 44 of the Relative Strength Index period 14. It indicates that the pair is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. USD\/CAD is below the 20% range of the daily stochastic. The market has reached the oversold region. Buyers are likely to emerge to push prices upward.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?On the 4 Hour Chart, USD\/CAD has fallen to the oversold region of the market. The market is consolidating above level 1.2430. The selling pressure has reached bearish exhaustion as the market reaches oversold region. If buyers emerge, the pair is likely to resume correction upward. If the pair rises above the moving averages and the bullish momentum is sustained, the downtrend is likely to be terminated.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"}