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USDCAD: Narrow finishing
2022-12-02
1075
Fundamental analysis:
USD/CAD remained volatile around 1.34259, and the market expects the Bank of Canada's terminal interest rate to be 4.25% in the fourth quarter of 2022.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: After falling from a high level, the market is in a narrow range, and the market as a whole is in a short-term short-term mood, showing signs of continuing to decline. The MACD indicator is hovering around the 0 axis, and the RSI indicator is below the 50 balance line.
Long and short turning point: 1.34400
Suppression: 1.34754, 1.35022
Support: 1.33935, 1.33636
Trading strategy: bearish below 1.34400, target 1.33935, 1.33636
Alternative strategy: Bullish above 1.34400, target 1.34754, 1.35022
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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