United States and Canada: high and narrow range shock

Fundamental analysis:

The USD / Canadian dollar remained volatile around 1.29404, and the monthly rate of wholesale sales in Canada recorded -0.5% in April, the largest decline since July 2021.

USD Canadian dollar USDCAD - 4-hour K-line chart display:

Technical comments: the middle and upper rail section of the Bollinger belt index channel continued to fluctuate and rise. After the high level reached the node near 1.29949, it retreated to the node near the middle rail for a short time and moved up again. In the short term, it may maintain the high and narrow range consolidation trend. The Bollinger belt index continued to close. The MACD index was in the high position of the bull region and maintained the weak downward movement, and the RSI index was in the consolidation and translation of the bull region;

Multi empty turning point: 1.29251

Pressing position: 1.29731, 1.30069

Support position: 1.28913, 1.28575

Trading strategy: bullish above 1.29251, target 1.29731, 1.30069

Alternative strategy: bearish below 1.29251, target 1.28913, 1.28575

The above analysis is a personal point of view and is for reference only.