{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-falls-as-price-deepens-in-the-oversold-region\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-falls-as-price-deepens-in-the-oversold-region\/","headline":"USD\/CAD Falls as Price Deepens in the Oversold Region","name":"USD\/CAD Falls as Price Deepens in the Oversold Region","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move. The downtrend resumes after a rejection from level 1.2650. The currency pair plunged sharply to the low of level 1.2000 and corrected upward. The pair corrected upward to level 1.2200 and resumed fluctuation between 1.2000 and 1.2200. Since May 10, the pair has been confined in […]","datePublished":"2021-05-24","dateModified":"2021-05-24","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\/05\/USDCAD-FOREX-SCH-3.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/USDCAD-FOREX-SCH-3.png","height":583,"width":906},"url":"https:\/\/forexschoolonline.com\/usd-cad-falls-as-price-deepens-in-the-oversold-region\/","about":["Price Action Charts in Focus","USD\/CAD"],"wordCount":258,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move. The downtrend resumes after a rejection from level 1.2650. The currency pair plunged sharply to the low of level 1.2000 and corrected upward. The pair corrected upward to level 1.2200 and resumed fluctuation between 1.2000 and 1.2200. Since May 10, the pair has been confined in a range. The selling pressure will resume if price breaks below level 1.2000. Presently, the price action is characterized by small body candlesticks.USD\/CAD Indicator Analysis USD\/CAD has risen to level 32 of the Relative Strength Index period 14. It indicates that the pair is still in the oversold region of the market. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.The currency pair is above 25%\u00a0 range of the daily stochastic. It indicates that the pair 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 still falling as a result of the rejection at level 1.2650. On May 18, the pair corrected upward but was resisted at level 1.2140. USD\/CAD fell after testing the recent high twice. Meanwhile, on May 20 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that USD\/CAD is likely to fall to level 1.272 Fibonacci extension and reverse. That is the low of level 1.2021.USD\/CAD – 3 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"}