{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usd-cad-slumps-as-buyers-recoup-above-level-1-2000\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usd-cad-slumps-as-buyers-recoup-above-level-1-2000\/","headline":"USD\/Cad Slumps as Buyers Recoup above Level 1.2000","name":"USD\/Cad Slumps as Buyers Recoup above Level 1.2000","description":"USD\/CAD Long-Term Analysis: BearishIn July, USD\/CAD has been in an upward move. Previously, the pair has been in a downtrend for several weeks.\u00a0 The upward move is facing rejection at level 1.2500. The downtrend will resume if the pair faces rejection at the recent high. Meanwhile, on June 21 uptrend; a retraced candle body tested […]","datePublished":"2021-07-05","dateModified":"2021-07-05","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\/07\/USDCAD-FOREX-SCH.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/07\/USDCAD-FOREX-SCH.png","height":714,"width":1136},"url":"https:\/\/forexschoolonline.com\/usd-cad-slumps-as-buyers-recoup-above-level-1-2000\/","about":["Price Action Charts in Focus","USD\/CAD"],"wordCount":246,"keywords":["Price Analysis","USD\/CAD"],"articleBody":"USD\/CAD Long-Term Analysis: BearishIn July, USD\/CAD has been in an upward move. Previously, the pair has been in a downtrend for several weeks.\u00a0 The upward move is facing rejection at level 1.2500. The downtrend will resume if the pair faces rejection at the recent high. Meanwhile, on June 21 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that USD\/CAD will rise to level 1.618 Fibonacci extension or level 1.2744.USD\/CAD Indicator Analysis The currency pair is at level 55 of the Relative Strength Index period 14. It indicates that the pair is in an uptrend and above the centerline 50. USD\/CAD is above the 40% range of the daily stochastic. It indicates that the market is in bullish momentum. The 21-day and 50-day SMAs are sloping downward.USD\/CAD – Weekly 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 attempting to break above level 1.2500 resistance zones. A break above level 1.2500 will propel the currency pair to resume upside momentum. Meanwhile, on June 18 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement indicates that USD\/CAD will reach level 1.618 Fibonacci extension or level 1.2768. From the price action, the market is approaching level 1.2500 to retest it.USD\/CAD – Daily 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"}