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USDCAD: shock down
2022-12-15
1097
Fundamental analysis:
USD/CAD remained oscillating around 1.35435, as Canadian factory sales rose 2.8% in October from September due to increased sales of petroleum and coal products, as well as food. Sales in constant dollars were flat in October, the ONS said, suggesting that all sales growth in current dollars was driven by a stronger greenback.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum remains volatile and downward, and the short-term decline may continue. The market as a whole is in a slow downward trend. The MACD indicator is in the short-term area and remains in order, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 1.35607
Suppression: 1.35873, 1.36139
Support: 1.35234, 1.34997
Trading strategy: bearish below 1.35607, target 1.35234, 1.34997
Alternative strategy: bullish above 1.35607, target 1.35873, 1.36139
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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