Technical analysis USDCAD for 14.09.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.31275. The closest resistance is the level 1.31915

Key levels

• 1.33035, 1.32475, 1.31915, 1.31275, 1.30775, 1.29745

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.31275, with Take Profit of 1.31915 and Stop Loss of 1.30775

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.30775, with Take Profit of 1.29745 and Stop Loss of 1.31275