Technical analysis USDCAD for 28.04.2022

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 1.27950. The closest resistance is the level 1.28475

Key levels

• 1.29100, 1.28475, 1.27950, 1.27275, 1.26650, 1.26125

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.28475, with Take Profit of 1.29100 and Stop Loss of 1.27950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.27950, with Take Profit of 1.27275 and Stop Loss of 1.28475