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USDCAD: Great earthquake finishing

2023-03-23
872
Fundamental analysis:

The U.S. dollar against the Canadian dollar remained volatile around 1.37310. The EIA report: The four-week average supply of U.S. crude oil products was 19.651 million barrels per day, a decrease of 6.22% from the same period last year. highest in weeks.

US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: After the short-term maintenance of wide-ranging and huge earthquakes, the market’s bullish momentum began to show signs of slow emergence. The MACD index hovered below the 0 axis, and the RSI index hovered above the 50 balance line;

Resistance levels: 1.37468 1.37637

Support levels: 1.37051 1.36838

Trading strategy: Bullish above 1.37223, target 1.37468 1.37637
Alternative strategy: bearish below 1.37223, target 1.37051 1.36838

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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