USDCAD: low move down

USD/CAD remained volatile around 1.35219, international crude oil retreated slightly, and fuel oil fluctuated. The recent performance of the shipping industry has been relatively flat. Although the BDI and other shipping indexes have rebounded recently, they are still weaker than the same period in previous years. At present, the supply of fuel oil in the Asian market is relatively loose, the overall demand is flat, and the sentiment of large-scale purchases of downstream traders is not high.

US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:

Looking at the 4-hour chart: the short-term momentum remains oscillating and moving down, the short-term decline has not stopped, the market's bearish sentiment continues to emerge, the MACD indicator is in the bearish area and moves down, and the RSI indicator is in the bearish area.

Resistance levels: 1.35465 1.35609

Support levels: 1.35044 1.34896

Trading strategy: bearish below 1.35293, target 1.35044 1.34896

Alternative strategy: Bullish above 1.35293, target 1.35465 1.35609