Technical analysis USDCAD for 26.07.2023

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 trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 1.32540. The closest support is the level 1.31710

Key levels

• 1.33730, 1.33000, 1.32540, 1.31710, 1.31150, 1.30500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.32540, with Take Profit of 1.33000 and Stop Loss of 1.32100

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.31710, with Take Profit of 1.31150 and Stop Loss of 1.32100