Technical analysis USDCAD for 19.12.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.35400. The closest resistance is the level 1.36325

Key levels

• 1.38250, 1.37025, 1.36325, 1.35400, 1.34575

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.36325, with Take Profit of 1.35400 and Stop Loss of 1.37025

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.37025, with Take Profit of 1.38250 and Stop Loss of 1.36325