Technical analysis USDCAD for 24.06.2022

The Tenkan-sen line crosses from top to bottom the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.29300. The closest support is the level 1.28950

Key levels

• 1.30120, 1.29700, 1.29300, 1.28950, 1.28580, 1.28210

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.29300, with Take Profit of 1.29700 and Stop Loss of 1.29150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.28950, with Take Profit of 1.28580 and Stop Loss of 1.29150