USDCAD: high rise
USD/CAD remained volatile around 1.36962. The Bank of Canada believes that the current monetary policy is strict enough to curb inflation in Canada and will suspend its tightening policy. Policy divergence between the two central banks will widen if the Bank of Canada keeps rates on hold and the Federal Reserve steps up the pace of rate hikes.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high level continues to fluctuate and rise, and the short-term bullish sentiment is shrouded. The market bulls are constantly moving upward.
Resistance levels: 1.38172 1.38385
Support levels: 1.37619 1.37397
Trading strategy: Bullish above 1.37842, target 1.38172 1.38385
Alternative strategy: bearish below 1.37842, target 1.37619 1.37397
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