{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdcad-retreats-below-the-1-3510-resistance-price-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdcad-retreats-below-the-1-3510-resistance-price-level\/","headline":"USDCAD Retreats Below the 1.3510 Resistance Price Level","name":"USDCAD Retreats Below the 1.3510 Resistance Price Level","description":"The momentum in the USDCAD market was influenced by economic events on both sides. The Canadian Raw Material Price Index improved, strengthening the Canadian dollar against the US dollar. Nevertheless, a more critical study is required for this market. Key Price Levels: Resistance Levels: 1.3500, 1.3550, and 1.3600 Support Levels: 1.3450, 1.3400, and 1.3350 USDCAD […]","datePublished":"2024-01-18","dateModified":"2024-01-18","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\/12\/dollar-1443244__340.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/12\/dollar-1443244__340.jpg","height":340,"width":763},"url":"https:\/\/forexschoolonline.com\/usdcad-retreats-below-the-1-3510-resistance-price-level\/","about":["Article","Forex","FX Technical Analysis","Technical Analysis"],"wordCount":247,"keywords":["Forex","Technical Analysis","usdcad"],"articleBody":"The momentum in the USDCAD market was influenced by economic events on both sides. The Canadian Raw Material Price Index improved, strengthening the Canadian dollar against the US dollar. Nevertheless, a more critical study is required for this market.Key Price Levels:Resistance Levels: 1.3500, 1.3550, and 1.3600Support Levels: 1.3450, 1.3400, and 1.3350USDCAD Bulls Are Getting RestrainedUSDCAD Price action earlier breached the 1.3510 mark, but a moderate downward correction caused it to retreat. Today’s trading session started bearishly, with minimal losses as of the time of writing, keeping the pair near the close of the previous session. Trading activities remain above the middle limit of the Bollinger Bands, and the Stochastic Relative Strength Index indicator curves show an upside bearing, suggesting upside forces are attempting to regain control. However, a closer check is needed.Bears in the USDCAD May Be StrengtheningTechnical indicators on the USDCAD 4-hour market show a divergent situation. An inverted hammer price candle has appeared, agreeing with the conclusion from technical indicators. Trading activities are still above the center line of the Bollinger Bands, a potential spot for bulls to regain control. However, the Moving Average Convergence Divergence (MACD) indicator lines just delivered a bearish crossover.The first red bar below the equilibrium level has appeared, suggesting downward forces might be gaining momentum. Caution is advised for any position anticipating a resumption of the uptrend towards the 1.3550 mark.Do you want to take your trading to the next level? Join the best platform for that here."}