Technical analysis CADCHF for 21.02.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.7195. The closest resistance is the level 0.7230

Key levels

• 0.7365, 0.7005, 0.7265, 0.7230, 0.7195, 0.7145, 0.7100

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.7195, with Take Profit of 0.7145 and Stop Loss of 0.7230

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.7230, with Take Profit of 0.7305 and Stop Loss of 0.7195