Technical analysis USDCAD for 12.12.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains 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 1.37190. The closest support is the level 1.35700

Key levels

• 1.39220, 1.38220, 1.37190, 1.35700, 1.34840, 1.34010

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.37190, with Take Profit of 1.38220 and Stop Loss of 1.36450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35700, with Take Profit of 1.34840 and Stop Loss of 1.36450