Technical analysis USDCAD for 02.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.2730. The closest resistance is the level 1.2838

Key levels

• 1.2955, 1.2890, 1.2838, 1.2730, 1.2645, 1.2585, 1.2500, 1.2430, 1.2300

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.2730, with Take Profit of 1.2838 and Stop Loss of 1.2703

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2838, with Take Profit of 1.2955 and Stop Loss of 1.2795