Technical analysis USDCAD for 30.08.2024

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 descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.34650. The closest resistance is the level 1.35200

Key levels

• 1.36100, 1.35625, 1.35200, 1.34650, 1.34350, 1.33975

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.34650, with Take Profit of 1.35200 and Stop Loss of 1.34350

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.34350, with Take Profit of 1.33975 and Stop Loss of 1.34650