简体中文
ภาษาไทย
繁體中文
Indonesia
USDCAD: sharp drop at high level
2023-07-09
757
Fundamental analysis:
USD/CAD remained volatile around 1.32714 as the latest Canadian jobs data, like recent economic indicators, painted a mixed picture, but may still not be enough to decisively close the door to further rate hikes. The unemployment rate rose for the second straight month in June to 5.4%, compared with the consensus estimate of 5.3%. That was the highest level in more than a year, though still below pre-pandemic levels.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high-level short-term momentum has fallen sharply, and the short-term decline may continue. In the overall bearish trend of the market, the MACD indicator is in the bullish area and continues to move down, and the RSI indicator fluctuates and moves down to the lower side of the 0 axis;
Resistance levels: 1.32977 1.33158
Support levels: 1.32527 1.32357
Trading strategy: bearish below 1.32801, target 1.32527 1.32357
Alternative strategy: bullish above 1.32801, target 1.32977 1.33158
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
