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USDCAD: high order
2023-08-13
788
Fundamental analysis:
USD/CAD remained volatile around 1.34462, benefiting from a slight drop in the USD. If OPEC+ maintains its target unchanged, oil inventories may decrease by 2.2 million barrels per day in the third quarter and 1.2 million barrels per day in the fourth quarter, pushing up oil prices risks of.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: the high level is maintained in the short term, and the bullish sentiment in the market has begun to weaken, but it is still in the high level consolidation trend, the MACD indicator is in the bullish area and the RSI indicator is hovering weakly on the side of the 50 balance line;
Resistance levels: 1.34695 1.34916
Support levels: 1.34118 1.33916
Trading strategy: Bullish above 1.34348, target 1.34695 1.34916
Alternative strategy: bearish below 1.34348, target 1.34118 1.33916
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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