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Economic data determine monetary policy, and the US dollar continues to decline against the Swiss franc

2022-05-27
962
Fundamental analysis:

Oil prices climbed about 3 per cent to a two month high on Thursday as there were signs of tight supply before the summer driving season in the United States and a dispute between the European Union and Hungary over the embargo on Russian oil.


USD / CAD daily chart:


Technical analysis: the daily moving average began to be empty, and the exchange rate fell again after a slight rebound. MACD operated on the 0 axis, but the volume could continue to shrink, and RSI weakened slowly. It is expected that the short-term exchange rate probability will rise further after correction.

Long short turning point: 1.2750

Resistance: 3090.281

Support position: 1.2630 1.2480

Trading strategy: above 1.2750, bullish, with target prices of 1.2890 and 1.3030

Alternative strategy: below 1.2750, bearish, with target prices of 1.2630 and 1.2480

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

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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