Technical analysis USDCAD for 12.10.2023

The Tenkan-sen line is located below 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 support is the level 1.36025. The closest resistance is the level 1.36294

Key levels

• 1.36600, 1.36294, 1.36025, 1.35725, 1.35500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36294, with Take Profit of 1.36600 and Stop Loss of 1.36025

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.36025, with Take Profit of 1.35725 and Stop Loss of 1.36294