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USDCAD: Multi head high position up

2022-10-03
1111
Fundamental analysis:

The US dollar remained volatile against the Canadian dollar at 1.37958. Canada Global Affairs Department: Canada has imposed sanctions on 43 Russian businessmen and their relatives, 35 officials from Donetsk, Lugansk, Kherson and Zaporoge.


USD CAD - 4-hour K line chart shows:



Technical analysis:


The 4-hour chart shows that the bulls' high position is slowly rising after broad consolidation, and the short-term bulls' upward trend may continue. The MACD index is at the high level of the bulls' region, and the RSI index is at the 50 balanced online side, and the weak side lingers;


Empty turning point: 1.37591


Pressing position: 1.38381, 1.38800


Support position: 1.37142, 1.36734


Trading strategy: bullish above 1.37591, target 1.38381, 1.38800


Alternative strategy: bearish under 1.37591, target 1.37142, 1.36734


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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