Technical analysis USDCAD for 04.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.36340. The closest support is the level 1.35140

Key levels

• 1.37910, 1.37190, 1.36340, 1.35140, 1.34660, 1.33990

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36340, with Take Profit of 1.37190 and Stop Loss of 1.35650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35140, with Take Profit of 1.34660 and Stop Loss of 1.35650