Technical analysis USDCAD for 24.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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 1.33000. The closest support is the level 1.30990

Key levels

• 1.35760, 1.34350, 1.33000, 1.30990, 1.29860

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.33000, with Take Profit of 1.34350 and Stop Loss of 1.31990

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.30990, with Take Profit of 1.29860 and Stop Loss of 1.31990