{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-retraces-to-level-1-2556-low-may-resume-upward\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-retraces-to-level-1-2556-low-may-resume-upward\/","headline":"USD\/CAD Retraces to Level 1.2556 Low, May Resume Upward","name":"USD\/CAD Retraces to Level 1.2556 Low, May Resume Upward","description":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move but may resume upward. The pair fell to the low of level 1.2564 as bulls bought the dips. It may further decline to the low of level 1.2472. Since January, USD\/CAD has been holding\u00a0 above level 1.2472 before resuming the uptrend. According to the daily stochastic, […]","datePublished":"2022-06-04","dateModified":"2022-06-04","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\/06\/USDCADDaily-Chart-.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/06\/USDCADDaily-Chart-.png","height":536,"width":1052},"url":"https:\/\/forexschoolonline.com\/usd-cad-retraces-to-level-1-2556-low-may-resume-upward\/","about":["FX Technical Analysis","Price Action Charts in Focus","USD\/CAD"],"wordCount":235,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishUSD\/CAD is in a downward move but may resume upward. The pair fell to the low of level 1.2564 as bulls bought the dips. It may further decline to the low of level 1.2472. Since January, USD\/CAD has been holding\u00a0 above level 1.2472 before resuming the uptrend. According to the daily stochastic, the currency pair has reached an oversold region of the market. The current downtrend may subside as the pair reaches the oversold region.USD\/CAD Indicator Analysis USD\/CAD has fallen to level 37 of the Relative Strength Index for period 14. The pair is trading now in the bearish trend zone and it is approaching the oversold region of the market. The price bars are below the 50-day line SMA and the 21-day line SMA indicating a possible fall of the pair.USD\/CAD is below the 20% range of the daily stochastic. The market has reached the oversold region.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 is in a downward move but may resume upward. The price bars are below the moving averages indicating a possible fall of the pair.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 result"}