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USDCAD: Falling low
2022-12-28
1030
Fundamental analysis:
USD/CAD remained volatile around 1.35213 as China lifted quarantine measures for incoming travelers, sparking expectations for higher fuel demand. Concerns over a U.S. winter storm affecting energy production also continued to support oil prices.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen at a low level, and the short-term decline may continue. The overall market sentiment is shrouded in bearish sentiment. The MACD indicator is in the short-term area and moves down, and the RSI indicator is in the short-term area.
Long-short turning point: 1.35290
Suppression: 1.35448, 1.35622
Support: 1.35073, 1.34957
Trading strategy: bearish below 1.35290, target 1.35073, 1.34957
Alternative strategy: bullish above 1.35290, target 1.35448, 1.35622
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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