Technical analysis AUDUSD for 06.01.2022

The Tenkan-sen line crosses from top to bottom the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.7135. The closest resistance is the level 0.7180

Key levels

• 0.7275, 0.7210, 0.7180, 0.7135, 0.7100, 0.7060

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.7135 and Stop Loss of 0.7210

Alternative scenario

• Recommended opening long positions (Buy Limit) from the level of 0.7100, with Take Profit of 0.7135 and Stop Loss of 0.7090