Canadian Dollar - The Canadian dollar tends to adjust and weaken after the central bank issued a signal to hold off on interest rate hikes
The central bank issued a signal to suspend interest rate hikes, and the Canadian dollar tended to adjust and weaken
The USD/CAD trend, the technical chart shows that the MACD indicator is breaking the signal line, and it is expected that the USD/CAD will show initial signs of bottoming out. If it can further break through the 100-day moving average currently at 1.3530, it is expected that the exchange rate will establish a rebound tendency. The key level is at 1.37. In the past more than a month, the USD/CAD has been constrained in this area, and the extended target is expected to be 1.3850 to 1.40. The current lowest support level is 1.3360 and 1.33, and the largest supporting areas to the 200-day moving average of 1.3210 and 1.30.
Resistance 1.3530 - 1.3700** – 1.3850 – 1.4000
Support 1.3300 - 1.3180 - 1.3000
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