Technical analysis USDCAD for 11.12.2023

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 1.35375. The closest resistance is the level 1.35800

Key levels

• 1.36350, 1.36000, 1.35800, 1.35375, 1.35075

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.35800, with Take Profit of 1.35375 and Stop Loss of 1.36000

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36000, with Take Profit of 1.36350 and Stop Loss of 1.35800