{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdcad-continues-to-consolidate-sideways-below-the-1-3510-mark\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdcad-continues-to-consolidate-sideways-below-the-1-3510-mark\/","headline":"USDCAD Continues to Consolidate Sideways Below the 1.3510 Mark","name":"USDCAD Continues to Consolidate Sideways Below the 1.3510 Mark","description":"With some key fundamentals still on the way, the USDCAD hasn’t benefited quite much from tailwinds. This seems largely due to the fact that market participants are still waiting on the sidelines to gather impetus that may drive the market either through the price ceiling at the 1.3500 mark or plunge the market towards or […]","datePublished":"2024-03-14","dateModified":"2024-03-14","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\/11\/dollars.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/11\/dollars.jpg","height":960,"width":1280},"url":"https:\/\/forexschoolonline.com\/usdcad-continues-to-consolidate-sideways-below-the-1-3510-mark\/","about":["Cryptocurrency","Forex","FX Technical Analysis","Technical Analysis","USD\/CAD"],"wordCount":292,"keywords":["Technical Analysis","trading","usdcad"],"articleBody":"With some key fundamentals still on the way, the USDCAD hasn’t benefited quite much from tailwinds. This seems largely due to the fact that market participants are still waiting on the sidelines to gather impetus that may drive the market either through the price ceiling at the 1.3500 mark or plunge the market towards or below the 1.3400 support.Key Price Levels:Resistance Levels: 1.3453, 1.3500, and 1.3600Support Levels: 1.3403, 1.3303, and 1.3200USDCAD May Dip FurtherWhile technical indicators in the USDCAD daily market seem divergent in the indications arising from them, it seems more likely that price action may plunge further toward the 1.3400 mark. The last price candle for the ongoing session has placed the market below the Guppy Multiple Moving Average (GMMA) curve.Technically, this places headwinds at an advantage in the market. However, the Stochastic Relative Strength Index (SRSI) indicator lines still generally have an upside trajectory, with the lines of the indicator appearing quite close to each other. This also makes it easy for headwinds to muscle down upside forces.USDCAD Market Maintains Bearish OutlookMeanwhile, in the USDCAD 4-hour market, it could still be perceived that the market has a downward trajectory. Just as it was mentioned in the daily market, price action has placed the pair below the crossed lines of the GMMA lines. Furthermore, the SRSI indicator lines have taken a bearish path, unlike that of the daily market.Consequently, this shows that headwinds will likely dictate the direction of the market at this point, towards the 1.3400 mark. This will likely stay pending the arrival of market-moving fundamentals from the United States, making bearish Forex signals quite the deal in this market.Do you want to take your trading to the next level? Join the best platform for that here."}