Technical analysis USDCAD for 22.09.2022

The Tenkan-sen line is located above 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 support is the level 1.34700. The closest resistance is the level 1.35550

Key levels

• 1.37170, 135550, 1.34700, 1.33700, 1.32850, 1.31850

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.35550, with Take Profit of 1.37170 and Stop Loss of 1.34700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.34700, with Take Profit of 1.33700 and Stop Loss of 1.35550