Technical analysis USDCAD for 23.02.2022

The Tenkan-sen line is located above 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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.26675. The closest resistance is the level 1.27100

Key levels

• 1.28900, 1.28300, 1.27675, 1.27100, 1.26675, 1.26125, 1.25650, 1.24850

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.27100, with Take Profit of 1.27675 and Stop Loss of 1.26675

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.26675, with Take Profit of 1.26125 and Stop Loss of 1.27100