{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-move-as-price-faces-rejection-as-1-2200\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-move-as-price-faces-rejection-as-1-2200\/","headline":"USD\/CAD Is in a Downward Move as Price Faces Rejection at 1.2200","name":"USD\/CAD Is in a Downward Move as Price Faces Rejection at 1.2200","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD made a brief upward move but was resisted at level 1.2200. The pair has resumed a downward move. If the bearish momentum is sustained, USD\/CAD is likely to decline to the targeted price of level 1.1754. Meanwhile, on March 22 downtrend; a retraced candlestick tested the 38.2% Fibonacci retracement level. This […]","datePublished":"2021-05-17","dateModified":"2021-05-17","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-Daily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/USDCAD-Daily-Chart.png","height":583,"width":914},"url":"https:\/\/forexschoolonline.com\/usd-cad-is-in-a-downward-move-as-price-faces-rejection-as-1-2200\/","about":["Article","Trade Idea","USD\/CAD"],"wordCount":203,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD made a brief upward move but was resisted at level 1.2200. The pair has resumed a downward move. If the bearish momentum is sustained, USD\/CAD is likely to decline to the targeted price of level 1.1754. Meanwhile, on March 22 downtrend; a retraced candlestick tested the 38.2% Fibonacci retracement level. This retracement indicates that the pair will decline to level 2.618 Fibonacci extension or the low of level 1.1754.USD\/CAD Indicator Analysis USD\/CAD has fallen to level 28 of the Relative Strength Index period 14. It indicates that the pair has reached the oversold region of the market. The 21-day and 50-day SMAs are sloping downward indicating the downtrend.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 has resumed a downward move after rejection at level 1.2200. According to the Fibonacci tool analysis, the pair will decline to level 1.1754. The market has fallen to the oversold region, and buyers are likely to emerge.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"}