Technical analysis USDCAD for 03.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.26950. The closest resistance is the level 1.27450

Key levels

• 1.28200, 1.27450, 1.26950, 1.26450, 1.25775, 1.25175, 1.24650

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.26950, with Take Profit of 1.27450 and Stop Loss of 1.26450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26450, with Take Profit of 1.25775 and Stop Loss of 1.26950