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USDCAD: Rapidly Soaring
2022-11-30
1129
Fundamental analysis:
USD/CAD remains volatile around 1.35791, oil prices still have upside risks next year, the Canadian dollar has limited exposure to risk events such as the Russia-Ukraine conflict, and has superior liquidity, all of which are expected to outperform other currencies in 2023 A good case for a pro-cyclical currency, provided risk sentiment stabilizes.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the bullish momentum has risen rapidly, the short-term bullish trend is good, the market bulls have continued to rise, the MACD indicator is in the bullish zone and continues to rise, and the RSI indicator is in the bullish zone and fluctuates at a high level;
Long-short turning point: 1.35684
Suppression: 1.36132, 1.36416
Support: 1.35416, 1.35148
Trading strategy: Bullish above 1.35684, target 1.36132, 1.36416
Alternative strategy: bearish below 1.35684, target 1.35416, 1.35148
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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