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USDCAD: within a narrow range
2022-12-05
1094
Fundamental analysis:
The USD/CAD remained volatile around 1.34600. The number of employed people in Canada in November was 10,100, which was expected to be 5,000, and the previous value was 108,300. Canada's employment change in November exceeded expectations, and the unemployment rate fell further.
US dollar Canadian dollar USDCAD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the narrow range of shocks moves up slowly, but the bulls lack follow-up momentum, the market as a whole is moving up slowly, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a narrow range near the 50 balance line;
Long and short turning point: 1.34400
Suppression: 1.34857, 1.35155
Support: 1.34112, 1.33830
Trading strategy: Bullish above 1.34400, target 1.34857, 1.35155
Alternative strategy: bearish below 1.34400, target 1.34112, 1.33830
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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