Technical analysis USDCAD for 20.11.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above 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 1.39926. The closest resistance is the level 1.40141

Key levels

1.39731, 1.39926, 1.40141, 1.40359, 1.40574

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 1.39926, with Take Profit of 1.40574 and Stop Loss of 1.39731

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 1.40141, with Take Profit of 1.39731 and Stop Loss of 1.40574