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USDCAD: interval vibration translation
2022-10-21
1158
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.37618. The Bank of Canada announced its interest rate resolution at 22:00 Beijing time on October 26, and then the Governor of the Bank of Canada, Michael Lam, held a press conference on monetary policy.
USD CAD - 4-hour K line chart shows:
Technical analysis:
From the 4-hour chart, we can see that the short-term entanglement area is in shock and consolidation, the market is in a state of anxiety, and the final direction guidance has not been given yet. The MACD index hovers around the 0 axis, and the RSI index is in a weak consolidation near the 50 equilibrium line;
Empty turning point: 1.37472
Pressing: 1.37995, 1.38315
Support: 1.37162, 1.36864
Trading strategy: bullish above 1.37472, target 1.37995, 1.38315
Alternative strategy: bearish under 1.37472, target 1.37162, 1.36864
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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