The U.S. dollar remains volatile against the Canadian dollar near 1.35482. The International Energy Agency (IEA): Price restrictions have achieved results, but now that prices have exceeded the upper limit, it remains to be seen whether Russia can continue to sell oil to the market. Not only are we seeing oil demand reach its peak, it's the highest it's been in decades.
USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum continues to fluctuate downwards, and the short-term decline may continue. The overall market is bearish, with the MACD indicator consolidating at a low level in the short area, and the RSI indicator remaining in the short area and continuing to fluctuate;
Resistance level: 1.35687 1.36804
Support level: 1.35367 1.35243
Trading strategy: Bearish below 1.35554, target 1.35367 1.35243
Alternative strategy: bullish above 1.35554, target 1.35687 1.36804