Technical analysis AUDUSD for 08.12.2021

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument entered the cloud. The closest support is the level 0.7080. The closest resistance is the level 0.7140

Key levels

• 0.7370, 0.7281, 0.7230, 0.7171, 0.7140, 0.7080, 0.7030, 0.6990

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.7171, with Take Profit of 0.7230 and Stop Loss of 0.7140

Alternative scenario

• Recommended opening long positions (Buy Limit) from the level of 0.7080, with Take Profit of 0.7140 and Stop Loss of 0.7030