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New Jobs Surprise Expectations, USD/CAD Accelerates Upside

2022-06-13
67529
Fundamental analysis:
USD/CAD rose 0.66% to 1.2780; Canada added more jobs than expected in May, the unemployment rate fell to 5.1%, and wages rose more than expected; USD/CAD rose 0.9% during the session.
USD/CAD  daily chart:

Technical analysis: The daily moving averages are in a short position, but the short-term moving averages turn heads, the exchange rate accelerates upwards, the MACD runs below the 0 axis but the volume can shrink slightly, and the RSI is rapidly strengthening. It is expected that the short-term exchange rate will likely further rise.
Long-short turning point: 1.2750
Resistance: 1.2890 1.3030
Support level: 1.2630 1.2480
Trading strategy: above 1.2750, bullish, target price is 1.2890, 1.3030
Alternative strategy: below 1.2750, bearish, target price is 1.2630, 1.2480


The above analysis is a personal opinion and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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