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USDCAD: Low level interval oscillation
2022-11-02
1067
Fundamental analysis:
The US dollar remained volatile against the Canadian dollar at 1.36283. The RBC purchasing managers' index of manufacturing industry in Canada in October was 48.8, a previous value of 49.8.
USD CAD - 4-hour K line chart shows:
Technical analysis:
From the 4-hour chart, we can see that the short-term entanglement low position wide amplitude vibration translation, the bull power rapidly rose, but still in the low position vibration finishing, the MACD index is at the lower side of the 0 axis weak wandering, and the RSI index is at the 50 balanced line side weak finishing;
Empty turning point: 1.36120
Pressing: 1.36607, 1.36950
Support: 1.35777, 1.35452
Trading strategy: bullish above 1.36120, target 1.36607, 1.36950
Alternative strategy: bearish under 1.36120, target 1.35777, 1.35452
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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