Technical analysis USDCAD for 09.09.2024

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, 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 1.35600. The closest resistance is the level 1.35800

Key levels

• 1.36100, 1.35800, 1.35600, 1.35475, 1.35250

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.35600, with Take Profit of 1.35800 and Stop Loss of 1.35475

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.35475, with Take Profit of 1.35250 and Stop Loss of 1.35600