The US dollar remained volatile against the Canadian dollar at 1.32485, and the potential pressure to promote inflation in Canada may peak in the fourth quarter of this year. However, most people believe that the signs of rapid price increases are becoming deep-rooted, and warn that economic recession may be needed to avoid price spirals.
USD CAD - 4-hour K line chart shows:
The 4-hour chart shows that the bulls' momentum keeps rising in shock, the high level retreats in the short term, the bears' momentum waits for an opportunity to enter the market, and the short-term decline starts to move down. The MACD index is in the high level of the bulls' area and the RSI index is in the bulls' area and slowly moves down;
Empty turning point: 1.32569
Pressing position: 1.32866, 1.33140
Support position: 1.32190, 1.31950
Trading strategy: 1.32569 lower bearish, target 1.32190, 1.31950
Alternative strategy: bullish above 1.32569, target 1.32866, 1.33140