Technical analysis USDCAD for 13.09.2023

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 1.35325. The closest resistance is the level 1.35675

Key levels

• 1.36375, 1.36050, 1.35675, 1.35325, 1.34900

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35325, with Take Profit of 1.34900 and Stop Loss of 1.35675

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.35675, with Take Profit of 1.36050 and Stop Loss of 1.35325