{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-recoups-above-1-2700-supports-targets-overhead-resistance-at-1-2900\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-recoups-above-1-2700-supports-targets-overhead-resistance-at-1-2900\/","headline":"USD\/CAD Recoups above 1.2700 Support, Targets Overhead Resistance at 1.2900","name":"USD\/CAD Recoups above 1.2700 Support, Targets Overhead Resistance at 1.2900","description":"USD\/CAD Long-Term Analysis: RangingUSD\/CAD is in an upward move but trades in a ranging market. Since July, buyers have not been able to sustain the price above level 1.2900. The overhead resistance has been retested twice in August and September but could not be breached. That is the reason why the currency pair has been […]","datePublished":"2021-10-01","dateModified":"2021-10-01","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\/10\/USDCAD_2021-10-01_04-17-42.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/10\/USDCAD_2021-10-01_04-17-42.png","height":592,"width":1222},"url":"https:\/\/forexschoolonline.com\/usd-cad-recoups-above-1-2700-supports-targets-overhead-resistance-at-1-2900\/","about":["Price Action Charts in Focus","USD\/CAD"],"wordCount":265,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: RangingUSD\/CAD is in an upward move but trades in a ranging market. Since July, buyers have not been able to sustain the price above level 1.2900. The overhead resistance has been retested twice in August and September but could not be breached. That is the reason why the currency pair has been in a sideways trend. USD\/CAD Indicator Analysis USD\/CAD is at level 53 of the Relative Strength Index period 14. It indicates that the pair is in the uptrend zone and capable of rising on the upside. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. USD\/CAD is above the 40% range of the daily stochastic. The currency pair is in a bullish momentum. The crypto’s price is above the 21-day SMA and the 50-day SMA which indicates a possible rise of the pair. The moving averages are pointing northward indicating the uptrend.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 an upward move to retest the overhead resistance. The upward move is facing rejection at level 1.2760. Buyers are recouping to resume upward move. Meanwhile, on September 29 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that USD\/CAD will rise to level 2.0 Fibonacci extension or level 1.2948.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"}