Technical analysis AUDUSD for 04.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.71750. The closest resistance is the level 0.72375

Key levels

• 0.73450, 0.72875, 0.72375, 0.71750, 0.71175, 0.70550

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.72375, with Take Profit of 0.72875 and Stop Loss of 0.72030

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.71750, with Take Profit of 0.71175 and Stop Loss of 0.72150