Technical analysis USDCAD for 28.07.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.32175. The closest resistance is the level 1.32475

Key levels

• 1.32700, 1.32475, 1.32175, 1.32000, 1.31800

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.32175, with Take Profit of 1.32475 and Stop Loss of 1.32000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.32000, with Take Profit of 1.31800 and Stop Loss of 1.32175