{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-reaches-bearish-exhaustion-as-it-rebounds-above-level-1-2930\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-reaches-bearish-exhaustion-as-it-rebounds-above-level-1-2930\/","headline":"USD\/CAD Reaches Bearish Exhaustion as It Rebounds Above Level 1.2930","name":"USD\/CAD Reaches Bearish Exhaustion as It Rebounds Above Level 1.2930","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downtrend as it rebounds above level 1.2930. The currency price declined below the 21-day line SMA. In other words, the pair is trading above the 50-day line SMA but below the 21-day line SMA. On the downside, the selling pressure will continue if price breaks below the 50-day […]","datePublished":"2022-09-13","dateModified":"2022-09-13","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\/09\/USDCADDaily-Chart.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/09\/USDCADDaily-Chart.png","height":536,"width":1052},"url":"https:\/\/forexschoolonline.com\/usd-cad-reaches-bearish-exhaustion-as-it-rebounds-above-level-1-2930\/","about":["FX Technical Analysis","Price Action Charts in Focus","USD\/CAD"],"wordCount":294,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downtrend as it rebounds above level 1.2930. The currency price declined below the 21-day line SMA. In other words, the pair is trading above the 50-day line SMA but below the 21-day line SMA. On the downside, the selling pressure will continue if price breaks below the 50-day line SMA. Conversely, if the 50-day line SMA holds, it implies that the selling pressure has subsided. USD\/CAD is likely to be compelled to a range-bound move between the moving average lines. Today, the pair has declined to the low of level 1.2974.USD\/CAD Indicator Analysis USD\/CAD is at level 47 of the Relative Strength Index for period 14. The pair is in the downtrend zone because of the recent selling pressure. The currency price is between the moving average lines which indicate a possible range-bound move of the pair. The 21-day line SMA and the 50-day SMA are sloping horizontally indicating a sideways move. USD\/CAD is below the 20% range of the daily stochastic. The market has reached the oversold region. The current downtrend has reached bearish exhaustion.USD\/CAD \u2013 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 downtrend as it rebounds above level 1.2930. Since September 9, the currency has been fluctuating above the current support. Meanwhile, on the September 9 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that USD\/CAD will fall but reverse at level 1.272 Fibonacci extension or level 1.2930.USD\/CAD \u2013 4 Hour Chart Note: 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"}