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USDCAD: high rise
2023-04-23
830
Fundamental analysis:
USD/CAD remained volatile around 1.35475, Statistics Canada: Retail sales fell 0.2% in February to 66.3 billion Canadian dollars. Sales of 4 of the 9 sub-sectors declined, accounting for 48.0% of the retail industry. The decline was largely driven by lower sales at gas stations and fuel suppliers (-5.0%) and general merchandise retailers (-1.6%).
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bulls continue to fluctuate and rise at a high level, and the short-term bulls continue to climb. The market as a whole continues to rise, and there is no sign of stopping. The MACD indicator is in the bullish area and continues to consolidate and rise. Hovering below the equilibrium line;
Resistance levels: 1.35620 1.35745
Support levels: 1.35232 1.35077
Trading strategy: Bullish above 1.35376, target 1.35620 1.35745
Alternative strategy: bearish below 1.35376, target 1.35232 1.35077
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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