USDCAD: continue to buy back

Fundamental analysis:

John shin and athanasios vamvakidis, strategists at Bank of America, said that inflation in the United States seemed to have peaked due to the decline in oil and gasoline prices, and they expected the dollar to have peaked. They said that inflation in the United States had begun to decline, while inflation in most other countries in the G10 was still rising. As other central banks also raised interest rates sharply, the Federal Reserve is no longer the most hawkish central bank in the G10

USD / CAD daily chart:

Technical analysis:

According to the daily chart, the short-term exchange rate is down again. MACD runs on the 0 axis and the volume energy starts to shrink on the 0 axis. RSI is down. It is expected that the short-term exchange rate will further rise after the back test.

Long and short turning point: 1.2850

Resistance level: 1.3030 1.3200

Support position: 1.2650 1.2450

Trading strategy: bullish above 1.2850, with target prices of 1.3030 and 1.3200

Alternative strategy: bearish below 1.2850, with target prices of 1.2650 and 1.2450