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USDCAD: Low bit downlink
2022-11-14
1044
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.32443. The decision-making level of major Asian oil consuming countries put forward new requirements for epidemic prevention and control measures and made detailed relaxation and optimization adjustments. These measures have released a clear signal that the decision-making level has the ability to control the epidemic, and the comprehensive economic reopening is coming.
USD CAD - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the power of low short positions continues to fluctuate downward, and the short-term decline has not stopped. The market short position sentiment remains unchanged. The MACD index is in the low position of short positions and the RSI index is in the low position of short positions;
Empty turning point: 1.32562
Pressing: 1.32925, 1.33276
Support: 1.32160, 1.31897
Trading strategy: 1.32562 lower bearish, target 1.32160, 1.31897
Alternative strategy: bullish above 1.32,562, target 1.32,925, 1.33,276
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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