Technical analysis USDCAD for 13.06.2023
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 1.33000. The closest resistance is the level 1.33350
Key levels
- 1.34100, 1.33725, 1.33350, 1.33000, 1.32700
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.33000, with Take Profit of 1.32700 and Stop Loss of 1.33265
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.33350, with Take Profit of 1.33725 and Stop Loss of 1.33000
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.