Technical analysis USDCAD for 08.10.2024

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.36350. The closest resistance is the level 1.36625

Key levels

• 1.36875, 1.36625, 1.36350, 1.36100, 1.35800

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.36350, with Take Profit of 1.36625 and Stop Loss of 1.36100

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.36100, with Take Profit of 1.35800 and Stop Loss of 1.36350