Technical analysis USDCAD for 16.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 resistance is the level 1.33035. The closest support is the level 1.32475

Key levels

• 1.34120, 1.33570, 1.33035, 1.32475, 1.31915, 1.31275

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.33035, with Take Profit of 1.33570 and Stop Loss of 1.32750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.32475, with Take Profit of 1.31915 and Stop Loss of 1.32750