Technical analysis USDCAD for 25.09.2024

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34250. The closest resistance is the level 1.34475

Key levels

• 1.35250, 1.34825, 1.34475, 1.34250, 1.34000

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.34250, with Take Profit of 1.34000 and Stop Loss of 1.34475

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.34475, with Take Profit of 1.34825 and Stop Loss of 1.34250