Technical analysis AUDUSD for 11.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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 0.7080. The closest resistance is the level 0.7135

Key levels

• 0.7225, 0.7135, 0.7080, 0.7040, 0.6990, 0.6940, 0.6850

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.7135 and Stop Loss of 0.7040

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.7040, with Take Profit of 0.6990 and Stop Loss of 0.7080