Canada's April CPI annual rate exceeded expectations

Fundamental analysis:

The US dollar remained volatile around 1.28852 against the Canadian dollar. Statistics Canada: Canada's CPI annual rate in April exceeded expectations. The inflation growth in April was mainly driven by food and housing prices. Compared with March, the rise of natural gas prices slowed down in April, slowing the accelerated growth of the overall consumer price index in April.

USD CAD - 4-hour K-line chart shows:

Technical comments: the short power continued to fluctuate and fall near the brin belt index. After reaching the node near 1.27938 at the low level, it began to fluctuate and pick up. After touching the node near the medium rail of the brin belt index, it began to sort out. The short-term long power showed signs of waiting for the opportunity to enter. The brin belt index began to shift after opening its mouth. The MACD index was in the short area and maintained the upward movement of shock, The RSI index is in the short position and moves upward to hover near the 50 equilibrium line;

Long short turning point: 1.28649

Pressing position: 1.29251, 1.29576

Support position: 1.28263, 1.27841

Trading strategy: bullish above 1.28649, targets 1.29251 and 1.29576

Alternative strategy: bearish below 1.28649, target 1.28263, 1.27841

The above analysis is a personal point of view and is for reference only.