Technical analysis USDCAD for 30.10.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.38200. The closest resistance is the level 1.38800

Key levels

• 1.39200, 1.38800, 1.38200, 1.37825, 1.37400

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.38200, with Take Profit of 1.38800 and Stop Loss of 1.37825

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.37825, with Take Profit of 1.37400 and Stop Loss of 1.38200