Technical analysis USDCAD for 28.02.2024

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 ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.35575. The closest resistance is the level 1.36075

Key levels

• 1.36375, 1.36075, 1.35575, 1.35200, 1.34850

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.35575, with Take Profit of 1.36075 and Stop Loss of 1.35200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35200, with Take Profit of 1.34850 and Stop Loss of 1.35550