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USDCAD: high volatility

2023-03-12
477
Fundamental analysis:

USD/CAD remained volatile around 1.39298. The number of employed people in Canada in February was 21,800, which was expected to be 10,000 and the previous value was 150,000. The unemployment rate in Canada was 5% in February, expected to be 5.10%, and the previous value was 5.00%.

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



Brief technical analysis:

Looking at the 4-hour chart: the high level fluctuates upwards, the short-term bulls in the market continue to pull up, the upward trend is good, the MACD indicator is in the bullish area to maintain shocks, and the RSI indicator is hovering above the 50 balance line;

Resistance levels: 1.38570 1.38770

Support levels: 1.37998 1.37785

Trading strategy: Bullish above 1.38212, target 1.38570 1.38770
Alternative strategy: bearish below 1.38212, target 1.37998 1.37785

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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