US sanctions against Russia politicize energy trade

Fundamental analysis:

The USD / Canadian dollar remained volatile around 1.25810. The current sanctions imposed on Russia by the United States using the strength of its financial system are questioning its reliability as a repository of wealth. Although the United States may think it has good reasons (sanctions against Russia), it has obviously politicized the energy trade.

USD Canadian dollar USDCAD - 4-hour K-line chart display:

Technical comments: the short power continued to move down the middle and lower rail section of the Bollinger belt index channel. After the low level reached the node near 1.25348, it rebounded for a short time. After touching the node near the middle rail of the Bollinger belt index, it began to sort out. The Bollinger belt index continued to move down as a short power. The MACD index remained weak at the low level of the short area, and the RSI index began to move up slowly at the low level of the short area;

Multi empty turning point: 1.25992

Pressing position: 1.26341, 1.26689

Support position: 1.25475, 1.25183

Trading strategy: bearish below 1.25992, target 1.25475, 1.25183

Alternative strategy: bullish above 1.25992, target 1.26341, 1.26689

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