Technical analysis USDCAD for 14.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.32850. The closest support is the level 1.30350

Key levels

• 1.36020, 1.34480, 1.32850, 1.30350, 1.29160

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.32850, with Take Profit of 1.34480 and Stop Loss of 1.31620

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.30350, with Take Profit of 1.29160 and Stop Loss of 1.31620