Technical analysis USDCAD for 28.11.2023

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 1.35800. The closest resistance is the level 1.36050

Key levels

• 1.36450, 1.36225, 1.36050, 1.35800, 1.35550

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.36050, with Take Profit of 1.35800 and Stop Loss of 1.36225

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36225, with Take Profit of 1.36450 and Stop Loss of 1.36050