{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-resumes-downward-correction-as-it-drops-above-1-2790\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-resumes-downward-correction-as-it-drops-above-1-2790\/","headline":"USD\/CAD Resumes Downtrend as It Drops Above 1.2790","name":"USD\/CAD Resumes Downtrend as It Drops Above 1.2790","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downtrend as it drops above 1.2790. As price breaks below the moving average lines, there is a tendency for a further downward movement of prices. The currency pair will decline to the current support above level 1.2713. The pair will further decline if the current support at the […]","datePublished":"2022-07-31","dateModified":"2022-07-31","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\/07\/USDCADDaily-CHart-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/07\/USDCADDaily-CHart-1.png","height":502,"width":1079},"url":"https:\/\/forexschoolonline.com\/usd-cad-resumes-downward-correction-as-it-drops-above-1-2790\/","about":["Price Action Charts in Focus"],"wordCount":238,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downtrend as it drops above 1.2790. As price breaks below the moving average lines, there is a tendency for a further downward movement of prices. The currency pair will decline to the current support above level 1.2713. The pair will further decline if the current support at the level is breached. That is, USD\/CAD will decline to the previous low at 1.2517 USD\/CAD Indicator Analysis USD\/CAD is at level 42 of the Relative Strength Index for period 14. It indicates that the pair has fallen to the bearish trend line and may further decline to the downside. The currency price bars are below the moving average indicating a further downward move. USD\/CAD is below the 20% range of the daily stochastic. The pair has fallen to the oversold region. It implies that selling pressure will reach 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 has fallen below the oversold region of the market as it drops above 1.2790. Buyers will be attracted to the oversold region of the market. They will attempt to push the currency to the previous highs.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"}