Technical analysis USDCAD for 11.10.2024

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 1.37600. The closest resistance is the level 1.38050

Key levels

• 1.38550, 1.38050, 1.37600, 1.37350, 1.36850

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.37600, with Take Profit of 1.38050 and Stop Loss of 1.37350

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.37350, with Take Profit of 1.36850 and Stop Loss of 1.37600