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USDCAD: high up
2022-12-12
1207
Fundamental analysis:
USD/CAD remained volatile around 1.36259, as oil traders and speculators fled the market at the end of the year due to high market volatility and uncertainty, the structure of the oil futures market showed signs of weak global oil demand and short-term sufficient supply, these All contributed to the pessimistic market sentiment.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level maintains a wide range of shocks in the short term, and the bullish momentum has signs of moving up again, the MACD indicator is in the bullish zone, and the RSI indicator is hovering weakly above the 50 balance line;
Long-short turning point: 1.36158
Suppression: 1.36540, 1.36791
Support: 1.35906, 1.35647
Trading strategy: Bullish above 1.36158, target 1.36540, 1.36791
Alternative strategy: bearish below 1.36158, target 1.35906, 1.35647
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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