{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-finds-support-above-level-1-2500-may-resume-an-uptrend\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-finds-support-above-level-1-2500-may-resume-an-uptrend\/","headline":"USD\/CAD Finds Support above Level 1.2500, May Resume an Uptrend","name":"USD\/CAD Finds Support above Level 1.2500, May Resume an Uptrend","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move but in a sideways trend as it may resume an uptrend. The currency pair has been declining from the high of level 1.2947 to the low of level 1.2520. The pair appears to have reached bearish exhaustion. Meanwhile, on January 3 downtrend, a retraced candle body […]","datePublished":"2022-01-15","dateModified":"2022-01-15","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\/01\/USDCADDaily-Chart-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/01\/USDCADDaily-Chart-1.png","height":548,"width":1079},"url":"https:\/\/forexschoolonline.com\/usd-cad-finds-support-above-level-1-2500-may-resume-an-uptrend\/","about":["Price Action Charts in Focus"],"wordCount":255,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move but in a sideways trend as it may resume an uptrend. The currency pair has been declining from the high of level 1.2947 to the low of level 1.2520. The pair appears to have reached bearish exhaustion. Meanwhile, on January 3 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the pair will fall to level 1.272 Fibonacci extension or level 1.2535.USD\/CAD Indicator Analysis USD\/CAD is at level 39 of the Relative Strength Index period 14. The pair is in the downtrend zone and below the centerline 50. The 21-day SMA and the 50-day SMA are sloping in a sideways move indicating the range-bound move. When the price bars are above the moving averages the currency pair will resume up trending. USD\/CAD is above the 80% range of the daily stochastic. The market has reached the overbought region. The pair may decline.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 in a downward move as price reaches the low of 1.2480 but it may resume an uptrend. Meanwhile, on January 2 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the pair will fall to level 1.618 Fibonacci extension or level 1.2423.USD\/CAD – 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"}