Technical analysis USDCAD for 23.11.2023

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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36825. The closest resistance is the level 1.37150

Key levels

• 1.37875, 1.37550, 1.37150, 1.36825, 1.36425

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.37150, with Take Profit of 1.37550 and Stop Loss of 1.36825

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.36825, with Take Profit of 1.36425 and Stop Loss of 1.37150