Technical analysis USDCAD for 20.09.2022

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 1.3285. The closest resistance is the level 1.3370

Key levels

• 1.3555, 1.3470, 1.3370, 1.3285, 1.3185

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.3370, with Take Profit of 1.3470 and Stop Loss of 1.3285

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.3285, with Take Profit of 1.3185 and Stop Loss of 1.3370