Technical analysis AUDCHF for 24.07.2023

The Tenkan-sen line is located above 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 below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.57975. The closest resistance is the level 0.58450

Key levels

• 0.59100, 0.58700, 0.58450, 0.57975, 0.57650

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.58450, with Take Profit of 0.57975 and Stop Loss of 0.58700

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.58700, with Take Profit of 0.59100 and Stop Loss of 0.58450