Technical analysis USDCAD for 28.03.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35400. The closest resistance is the level 1.35550

Key levels

• 1.35800, 1.35650, 1.35550, 1.35400, 1.35250

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.35550, with Take Profit of 1.35400 and Stop Loss of 1.35650

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.35650, with Take Profit of 1.35800 and Stop Loss of 1.35550