USD/CAD remained volatile around 1.36426. China's oil demand will increase by 1 million barrels per day this year, driving an expected increase in global oil consumption by 2.6 million barrels per day. Under the high-growth scenario, oil demand in the world's largest crude oil importer could increase by 1.4 million barrels per day this year, about 400,000 barrels per day higher than previously forecast, and oil prices would rise another $3-5 per barrel.
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 upwards, the short-term bullish momentum continues to move upwards, the market is shrouded in bullish sentiment, the MACD indicator is in the bullish zone and continues to move upwards gently, and the RSI indicator is hovering at the high level in the bullish zone;
Resistance levels: 1.36604 1.36782
Support levels: 1.36102 1.35917
Trading strategy: Bullish above 1.36300, target 1.36604 1.36782
Alternative strategy: bearish below 1.36300, target 1.36102 1.35917