The US dollar remained volatile against the Canadian dollar at 1.34258. With the Bank of Canada considering slowing the rate rise, the central bank is now focusing on inflation data that is more timely than traditional indicators, which can help the central bank avoid excessive tightening. The inflation rate is usually expressed in terms of the annual change rate of prices, so as to suppress the volatility of short-term indicators.
USD CAD - 4-hour K line chart shows:
The 4-hour chart shows that the bearish sentiment of the market is good, and the short-term low decline may continue. The market bearish momentum continues to move downward. The MACD index is in the low position of the bearish region and the RSI index is in the weak position of the bearish region;
Empty turning point: 1.34375
Pressing: 1.34706, 1.35019
Support: 1.33931, 1.33647
Trading strategy: bearish under 1.34,375, target 1.33,931, 1.33,647
Alternative strategy: bullish above 1.34375, target 1.34706, 1.35019