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USDCAD: bulls pull up
2022-12-16
1091
Fundamental analysis:
USD/CAD remained volatile around 1.36660. Canadian housing starts in November were 264,200 units, expected to be 255,000 units, and the previous value was 267,100 units.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strong and rising, the short-term bullish sentiment continues, the market bulls continue to climb, the MACD indicator moves upward on the 0 axis, and the RSI indicator rises on the 50 balance line;
Long-short turning point: 1.36543
Suppression: 1.36891, 1.37091
Support: 1.36342, 1.36130
Trading strategy: Bullish above 1.36543, target 1.36891, 1.37091
Alternative strategy: bearish below 1.36543, target 1.36342, 1.36130
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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