Technical analysis USDCAD for 15.03.2024

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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35000. The closest resistance is the level 1.35250

Key levels

• 1.35850, 1.35550, 1.35250, 1.35000, 1.34600

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35000, with Take Profit of 1.34600 and Stop Loss of 1.35250

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.35250, with Take Profit of 1.35550 and Stop Loss of 1.35000