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USDCAD: bulls pull up
2022-12-29
1038
Fundamental analysis:
USD/CAD remained volatile around 1.36053. Canada’s national economic confidence index as of December 23 was 45.3, compared with 45 before.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum is strong and rising, short-term bullish sentiment emerges, the market bulls continue to rise, the MACD indicator is in the short area and moves up, and the RSI indicator is hovering above the 50 balance line;
Long-short turning point: 1.35975
Suppression: 1.36192, 1.36320
Support: 1.35834, 1.35697
Trading strategy: bullish above 1.35975, target 1.36192, 1.36320
Alternative strategy: bearish below 1.35975, target 1.35834, 1.35697
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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