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USDCAD: Narrow finishing
2022-12-22
1151
Fundamental analysis:
USD/CAD remained volatile around 1.36038. Canada’s annual inflation rate in November fell slightly from 6.9% to 6.8%, slightly higher than the consensus estimate of 6.7%, but further down from the peak of 8.1% in summer.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: High short positions fluctuated downward, and short-term consolidation began to shift within a narrow range. The market's short sentiment began to emerge slowly. The MACD index hovered below the 0 axis, and the RSI index was below the 50 balance line for weak consolidation;
Long-short turning point: 1.36145
Suppression: 1.36374, 1.36572
Support: 1.35838, 1.35621
Trading strategy: bearish below 1.36145, target 1.35838, 1.35621
Alternative strategy: Bullish above 1.36145, target 1.36374, 1.36572
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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