Technical analysis USDCAD for 20.09.2024

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 ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35550. The closest resistance is the level 1.35750

Key levels

• 1.36150, 1.35900, 1.35750, 1.35550, 1.35425

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35750, with Take Profit of 1.35550 and Stop Loss of 1.35900

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.35900, with Take Profit of 1.36150 and Stop Loss of 1.35750