{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-declines-to-an-oversold-region-as-it-reaches-bearish-exhaustion\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-declines-to-an-oversold-region-as-it-reaches-bearish-exhaustion\/","headline":"USD\/CAD Declines to an Oversold Region as It Reaches Bearish Exhaustion","name":"USD\/CAD Declines to an Oversold Region as It Reaches Bearish Exhaustion","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a sideways trend since July 2021 as it reaches bearish exhaustion. Presently, the currency pair is falling after a rejection from the high of 1.2900. The bears have broken below the 21-day line moving average and it is approaching the 50-day line moving average. The pair will resume a […]","datePublished":"2022-03-12","dateModified":"2022-03-12","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\/03\/USDCADDaily-Chart-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/03\/USDCADDaily-Chart-1.png","height":539,"width":1052},"url":"https:\/\/forexschoolonline.com\/usd-cad-declines-to-an-oversold-region-as-it-reaches-bearish-exhaustion\/","about":["Forex Strategies","FX Technical Analysis","Price Action Charts in Focus","USD\/CAD"],"wordCount":291,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a sideways trend since July 2021 as it reaches bearish exhaustion. Presently, the currency pair is falling after a rejection from the high of 1.2900. The bears have broken below the 21-day line moving average and it is approaching the 50-day line moving average. The pair will resume a downtrend if price breaks below the 50-day line moving average. The pair will further decline to level 1.2600 or 1.2500 price level. On the other hand, if price holds above the 50-day line moving average, USD\/CAD will be compelled to a range-bound move between the moving averages.USD\/CAD Indicator Analysis USD\/CAD is at level 48 of the Relative Strength Index for period 14. The pair is still in the downtrend zone and below the centerline 50. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend. The pair is below the 20% range of the daily stochastic. The market has fallen to the oversold region. The selling pressure is likely to reach bearish exhaustion.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 1-hour chart, USD\/CAD is in a downtrend as it reaches bearish exhaustion. The pair has broken below the moving averages. Meanwhile, on March 10 downtrend; a retraced candle body tested the 78.6 % Fibonacci retracement level. The retracement suggests that the currency pair will fall but reverse at level 1.272 Fibonacci extension or level 1.2712. From the price action, USD\/CAD has broken below level 1.272 Fibonacci extensionUSD\/CAD \u2013 1 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"}