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USDCAD: Shock down
2023-02-14
1067
Fundamental analysis:
USD/CAD remained volatile around 1.33359, with OPEC predicting that global oil demand in 2023 will exceed pre-epidemic levels as the economic outlook for China, the largest importer of crude oil, improves.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
The 4-hour chart: After the high short-term momentum fell sharply, it fluctuated within a short period of time. The short-term momentum began to move down slowly again. The market's short-term sentiment emerged. The MACD indicator was in the short-term area and continued to move downward. The RSI indicator was below the 50 balance line. ;
Long-short turning point: 1.33422
Suppression: 1.33547, 1.33627
Support: 1.33231, 1.33107
Trading strategy: bearish below 1.33422, target 1.33231, 1.33107
Alternative strategy: Bullish above 1.33422, target 1.33547, 1.33627
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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