USDCAD: Bullish power has exploded

Fundamental analysis:

Large-scale power outages occurred in downtown Toronto, Canada's largest city, on the 11th. Tens of thousands of users and several municipal services were affected. Markets such as the Eaton Center, the largest shopping mall in the city center, were temporarily closed. Some schools have decided to temporarily cancel offline classes as fire safety facilities are affected by power outages. Toronto Police Headquarters and parts of the Hospital for Sick Children are also in the power outage zone

USD/CAD USDCAD daily chart:

Technical brief:

From the daily chart: the short-term exchange rate quickly rises after it stops falling, the MACD runs below the 0 axis and the volume can shrink slightly, and the RSI strengthens rapidly. It is expected that the short-term exchange rate will likely rise further.

Long and short turning point: 1.2850

Resistance: 1.3030 1.3200

Support level: 1.2650 1.2450

Trading strategy: bullish above 1.2850, target price at 1.3030, 1.3200

Alternative strategy: bearish below 1.2850, target price at 1.2650, 1.2450