Technical analysis USDCAD for 23.04.2024

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 1.36500. The closest resistance is the level 1.36900

Key levels

• 1.37350, 1.36900, 1.36500, 1.36100, 1.35600

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.36500, with Take Profit of 1.36100 and Stop Loss of 1.36900

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.36900, with Take Profit of 1.37350 and Stop Loss of 1.36500