Technical analysis AUDCAD for 22.04.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains 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 0.92225. The closest resistance is the level 0.92725

Key levels

• 0.94000, 0.93525, 0.93150, 0.92725, 0.92225, 0.91775

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.92725, with Take Profit of 0.92225 and Stop Loss of 0.93150

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.93150, with Take Profit of 0.93525 and Stop Loss of 0.93000