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USDCAD: High pull up
2022-12-19
1156
Fundamental analysis:
USD/CAD remained volatile around 1.36923. Canadian wholesale sales recorded a monthly rate of 2.1% in October, the largest increase since January 2022.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of the high-level bulls continues to rise, the market bulls break through the previous highs and then sort out, and there is a trend of continuing to rise in the short term, the MACD indicator is in the bullish zone and continues to move upward, and the RSI indicator is in the bullish zone and is finishing up;
Long-short turning point: 1.36923
Suppression: 1.37091, 1.37277
Support: 1.36614, 1.36404
Trading strategy: Bullish above 1.36923, target 1.37091, 1.37277
Alternative strategy: bearish below 1.36923, target 1.36614, 1.36404
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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