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USDCAD: bulls up
2022-12-23
1149
Fundamental analysis:
USD/CAD remained volatile around 1.36480, and the market faced three major uncertainties: the Fed's interest rate decision, demand from major Asian countries, and Russia's response to the oil export price ceiling.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the bulls rose rapidly and then fluctuated, short-term bullish sentiment emerged, the MACD indicator hovered weakly near the 0 axis, and the RSI indicator was weakly finishing on the side of the 50 balance line;
Long-short turning point: 1.36365
Suppression: 1.36641, 1.36810
Support: 1.36157, 1.35953
Trading strategy: Bullish above 1.36365, target 1.36641, 1.36810
Alternative strategy: bearish below 1.36365, target 1.36157, 1.35953
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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