The USD / CAD fluctuated around 1.31110. The data released by Statistics Canada showed that the Canadian economy grew at an annualized rate of 3.3% in the second quarter, driven by the increase in enterprise inventory investment, which was lower than analysts' expectations. Statistics Canada said that the real GDP in June increased by 0.1% compared with that in May, which is in line with expectations, while the GDP in July may decline slightly by 0.1%.
US dollar and Canadian dollar USDCAD - 4-hour K-line chart shows:
According to the 4-hour chart, the market's bulls are surging up in a step-by-step manner. The short-term bullish sentiment is shrouded, and the bulls are moving further upward. The MACD indicator is in the Bulls' region, and the RSI indicator is in the Bulls' region;
Long and short turning point: 1.31110
Pressing position: 1.31537, 1.31783
Support position: 1.30849, 1.30623
Trading strategy: bullish above 1.31110, target 1.31537, 1.31783
Alternative strategy: bearish below 1.31110, targets 1.30849 and 1.30623