Technical analysis USDCAD for 17.01.2024

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35175. The closest resistance is the level 1.35700

Key levels

• 1.36075, 1.35700, 1.35175, 1.34875, 1.34400

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.35175, with Take Profit of 1.35700 and Stop Loss of 1.34875

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.34875, with Take Profit of 1.34400 and Stop Loss of 1.35175