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USDCAD: bearish downlink
2022-11-23
1091
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.33681. The monthly retail sales rate in Canada in September was - 0.5%, with a previous value of 0.70%. The annual rate of Canada's new home price index in October was 5.1%, the previous value was 6.3%.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power continues to fluctuate downward, with a trend of continuous downward movement in the short term. The MACD index is in the long region and moves downward, while the RSI index is in the weak position near the 50 equilibrium line;
Multi empty turning point: 1.33800
Pressing: 1.34134, 1.34459
Support: 1.33289, 1.32936
Trading strategy: bearish under 1.33800, target 1.33289, 1.32936
Alternative strategy: bullish above 1.33800, target 1.34134, 1.34459
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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