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USDCAD: high level resistance pullback
2022-08-30
1049
Fundamental analysis:
The USD / CAD fluctuated around 1.30031. With the optimistic progress of Iran's nuclear agreement, the hope of Iran's crude oil returning to the market has greatly increased, which will ease the current supply shortage and exert downward pressure on the oil price. Earlier, US White House press secretary Pierre said that if it is in the interests of the United States, the United States will agree to the Iran nuclear agreement.
US dollar and Canadian dollar USDCAD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short-term high level shocks pull up, and after breaking the previous high level, the market bears begin to enter the market. In the near future, the high level giant earthquake may be maintained. The MACD index is in the long position, and the RSI index is in the 50 equilibrium line side, and the weak side hovers;
Long and short turning point: 1.30139
Pressing position: 1.30358, 1.30571
Support position: 1.29813, 1.29580
Trading strategy: bearish below 1.30139, target 1.29813, 1.29580
Alternative strategy: bullish above 1.30139, target 1.30358, 1.30571
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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