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USDCAD: low move up
2023-04-16
905
Fundamental analysis:
USD/CAD remained volatile around 1.33589, G7 draft statement: G7 energy and climate ministers agreed on the need to accelerate clean energy transition through energy conservation and natural gas demand cuts, G7 ministers agreed to invest in the natural gas industry to address possible market shortages .
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bulls are pulling up strongly, and the short-term bulls are waiting for an opportunity to enter the market and rise. The bullish sentiment in the market has begun to emerge. The MACD indicator is in the short-term area and moves up, and the RSI is in the short-term area.
Resistance levels: 1.33812 1.34015
Support levels: 1.33269 1.33088
Trading strategy: Bullish above 1.33492, target 1.33812 1.34015
Alternative strategy: bearish below 1.33492, target 1.33269 1.33088
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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