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USDCAD: high order

Fundamental analysis:

USD/CAD remained volatile around 1.36066. Federal Reserve Chairman Powell will testify in the House of Representatives and Senate on Tuesday (March 7) and Wednesday (March 8), respectively, when he may be asked about the world's largest Whether oil-consuming countries need more substantial interest rate hikes. The prospect of the Fed raising interest rates will also depend on the February employment report due on Friday (March 10) and the February inflation report due next week.

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

Brief technical analysis:

Looking at the 4-hour chart: short-term highs fluctuate within a narrow range, the market as a whole is in a weak order, the MACD indicator is hovering above the 0 axis, and the RSI indicator is in a weak order above the 50 balance line;

Resistance levels: 1.36373 1.36587

Support levels: 1.35893 1.35692

Trading strategy: Bullish above 1.36089, target 1.36373 1.36587
Alternative strategy: bearish below 1.36089, target 1.35893 1.35692

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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