Technical analysis USDCAD for 26.04.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed 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 1.2775. The closest resistance is the level 1.2805

Key levels

• 1.2870, 1.2805, 1.2775, 1.2715, 1.2670, 1.2620, 1.2560

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.2805, with Take Profit of 1.2870 and Stop Loss of 1.2775

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.2775, with Take Profit of 1.2715 and Stop Loss of 1.2805