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USDCAD: hovering at a high level
2023-04-25
841
Fundamental analysis:
USD/CAD remained volatile around 1.35395. Canada's new housing price index in March was 0% month-on-month, compared with -0.2% in the previous month. Canada's March new home price index rose 0.2% from a previous 1.4%.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum continued to fluctuate and rise, and the high level was lingering in the short-term. The bullish sentiment in the market began to weaken, and the short-selling momentum waited for an opportunity to enter the market.
Resistance levels: 1.35621 1.35745
Support levels: 1.35232 1.35077
Trading strategy: bearish below 1.35451, target 1.35232 1.35077
Alternative strategy: Bullish above 1.35451, target 1.35621 1.35745
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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