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USDCAD: Low level sorting
2022-11-16
1115
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.32730. The annual rate of Canada's wholesale inventory in September was 26.3%, a previous value of 26.2%. The annual rate of wholesale sales in Canada in September was 12.4%, the previous value was 13.3%.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the low position maintains a narrow range of consolidation and translation, and the market bearish sentiment begins to weaken. The MACD indicator is in the low position of the bearish area and moves up, while the RSI indicator is in the weak position below the 50 equilibrium line;
Empty turning point: 1.32935
Pressing: 1.33391, 1.33745
Support: 1.32317, 1.31983
Trading strategy: bearish under 1.32935, target 1.32317, 1.31983
Alternative strategy: bullish above 1.32935, target 1.33391, 1.33745
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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