Technical analysis AUDCAD for 11.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 0.93525. The closest resistance is the level 0.94000

Key levels

• 0.95025, 0.94375, 0.94000, 0.93525, 0.93150, 0.92725, 0.92225

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.93150, with Take Profit of 0.92725 and Stop Loss of 0.93525

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.94000, with Take Profit of 0.94375 and Stop Loss of 0.93750