{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-correction-faces-rejection-at-1-2539\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-correction-faces-rejection-at-1-2539\/","headline":"USD\/CAD Is in a Downward Correction, Faces Rejection at 1.2539","name":"USD\/CAD Is in a Downward Correction, Faces Rejection at 1.2539","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward correction as it faces rejection at 1.2539. The selling pressure subsided after the decline on March 30. The 1.2429 is the historical price level of January 20, 2022. On January 20, the currency pair rebounded above the current support as it rallied to the high of 1.2800. […]","datePublished":"2022-04-02","dateModified":"2022-04-02","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\/04\/USDCADDaily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/04\/USDCADDaily-Chart.png","height":539,"width":1026},"url":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-correction-faces-rejection-at-1-2539\/","about":["Price Action Charts in Focus","USD\/CAD"],"wordCount":264,"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward correction as it faces rejection at 1.2539. The selling pressure subsided after the decline on March 30. The 1.2429 is the historical price level of January 20, 2022. On January 20, the currency pair rebounded above the current support as it rallied to the high of 1.2800. After the rally, buyers could not sustain the bullish momentum above the recent high. On March 7, the bulls breach the resistance to reach the high of 1.2900. Today, buyers have recouped as the pair reached the high of 1.2527.USD\/CAD Indicator Analysis The market has fallen to level 41 of the Relative Strength Index for period 14. USD\/CAD is in the downtrend zone and below the centerline 50. The 21-day line and the 50-day line moving averages are sloping horizontally. USD\/CAD is above the 80% range of the daily stochastic. The pair has reached the overbought region of the market. The current uptrend may face rejection at the recent high.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 is in a downward correction as it faces rejection at 1.2539. Buyers are making frantic efforts to push the BTC price upward. A fresh downtrend will resume if the pair faces rejection at the moving averages. The pair is falling as it reaches the low of 1.2519.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"}