Technical analysis AUDUSD for 02.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 resistance is the level 0.70750. The closest support is the level 0.70100

Key levels

• 0.71820, 0.71260, 0.70750, 0.70100, 0.69590, 0.69090

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.70750, with Take Profit of 0.71260 and Stop Loss of 0.70400

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.70100, with Take Profit of 0.69590 and Stop Loss of 0.70400