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USDCAD: high down
2022-12-14
1158
Fundamental analysis:
The U.S. dollar traded around 1.35469 against the Canadian dollar, as soaring energy prices have fueled inflation and left businesses and households struggling with electricity and gas bills. With Europe gripped by a cold snap this week, EU governments are under increasing pressure from voters to act or risk a backlash.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level short positions has fallen rapidly, and the short-term decline in the market continues. In the short term, it may continue to move downward.
Long-short turning point: 1.35607
Suppression: 1.35873, 1.36139
Support: 1.35234, 1.34996
Trading strategy: bearish below 1.35607, target 1.35234, 1.34996
Alternative strategy: bullish above 1.35607, target 1.35873, 1.36139
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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