Technical analysis AUDUSD for 04.02.2022

The Tenkan-sen line is located above the Kijun-sen line. Red points downwards while blue points upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.70300. The closest resistance is the level 0.70685

Key levels

• 0.72900, 0.72435, 0.72100, 0.71750, 0.71400, 0.71030, 0.70685, 0.70300, 0.69900

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.70685, with Take Profit of 0.71030 and Stop Loss of 0.70400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.70300, with Take Profit of 0.69900 and Stop Loss of 0.70685