Technical analysis USDCAD for 06.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 Stop) from the level of 1.2838, with Take Profit of 1.2955 and Stop Loss of 1.2730

Alternative scenario

• Recommended opening long positions (Buy Limit) from the level of 1.2730, with Take Profit of 1.2890 and Stop Loss of 1.2645