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USDCAD: shock down
2023-01-13
1123
Fundamental analysis:
USD/CAD remained oscillating around 1.33599. The overall U.S. CPI annual rate in December was in line with expectations of 6.50%, with the previous value at 7.10%; the core CPI annual rate in December was in line with expectations at 5.70%, with the previous value at 6%. The annual rate of core inflation hit its lowest level since December 2021.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fluctuates downward at a low level, the short-term decline may continue, the market as a whole is still in a weak position, the MACD indicator is in the short-selling area and moves down, and the RSI indicator is in the short-selling area and is slowly declining;
Long-short turning point: 1.33747
Suppression: 1.33999, 1.34218
Support: 1.33406, 1.33190
Trading strategy: bearish below 1.33747, target 1.33406, 1.33190
Alternative strategy: Bullish above 1.33747, target 1.33999, 1.34218
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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