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USDCAD: high volatility
2022-12-13
1269
Fundamental analysis:
USD/CAD remained volatile around 1.36321. Canada's TC Energy said it had not yet determined the cause of the leak on the Keystone oil pipeline supplying the United States. The company did not give a timetable for when the pipeline would resume operations. The Keystone pipeline transports 622,000 barrels per day and is an important artery for transporting Canadian heavy crude oil from Alberta to refineries in the U.S. Midwest and Gulf Coast.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: High short-term wide fluctuations, the market’s short-term momentum has signs of waiting for an opportunity to enter the market, but it is still in the high and wide range of shocks, the MACD indicator is in the bullish area, and the RSI indicator is hovering 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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