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USDCAD: High level oscillation uplink
2022-09-21
1121
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.33448, and Canada's inflation rate was much slower than economists had expected. The core price has slowed down due to the slowing down of gasoline prices. The interest rate hike has hit the real estate market, which is rare good news for the central bank. It is expected that CPI will remain above the target level until the end of 2024.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the high level shock, the bulls' momentum is rising again. There is no sign of the final stop. The short-term bullish mood remains unchanged. The MACD indicators remain in the bulls' area and the RSI indicators remain in the bulls' area;
Empty turning point: 1.33448
Pressing position: 1.33894, 1.34246
Support position: 1.33144, 1.32865
Trading strategy: bullish above 1.33448, target 1.33894, 1.34246
Alternative strategy: bearish under 1.33448, target 1.33144, 1.32865
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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