{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-regains-bullish-momentum-targets-level-1-2725\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-regains-bullish-momentum-targets-level-1-2725\/","headline":"USD\/Cad Regains Bullish Momentum, Targets Level 1.2725","name":"USD\/Cad Regains Bullish Momentum, Targets Level 1.2725","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD retraced to the low of level 1.2432 after rejection from the recent high. The 1.2432 support was the previous resistance of June 21. The current retracement has reached bearish exhaustion. Meanwhile, on August 3 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that USD\/CAD will […]","datePublished":"2021-08-06","dateModified":"2021-08-06","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\/08\/USDCAD-FOREX-SCH.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/08\/USDCAD-FOREX-SCH.png","height":590,"width":987},"url":"https:\/\/forexschoolonline.com\/usd-cad-regains-bullish-momentum-targets-level-1-2725\/","about":["Price Action Charts in Focus","Trade Idea","USD\/CAD"],"wordCount":261,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD retraced to the low of level 1.2432 after rejection from the recent high. The 1.2432 support was the previous resistance of June 21. The current retracement has reached bearish exhaustion. Meanwhile, on August 3 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 1.2722. USD\/CAD Indicator Analysis USD\/CAD is at level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day and 50-day SMAs are sloping upward indicating the uptrend. The price bars are below the moving averages which indicates upward movement is doubtful. USD\/CAD is above the 25% range of the daily stochastic. It indicates that the currency pair is in a bullish momentum.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?The currency pair is likely to resume a downward move after falling to the low of level 1.2440. On the 4-hour hour chart, the upward correction is facing resistance at the high of level 1.2570. On the upside, if price breaks above level 1.2570 resistance, the uptrend will resume. Meanwhile, on August 3 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 1.2725.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"}