Technical analysis USDCAD for 09.01.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.33450. The closest resistance is the level 1.34150

Key levels

• 1.34900, 1.34150, 1.33450, 1.33175, 1.32700

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.33450, with Take Profit of 1.34150 and Stop Loss of 1.33175

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.33175, with Take Profit of 1.32700 and Stop Loss of 1.33450