Technical analysis AUDNZD for 13.05.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is below 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 1.09725. The closest resistance is the level 1.10225

Key levels

• 1.11075, 1.10600, 1.10225, 1.09725, 1.09200, 1.08775, 1.08325

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.10225, with Take Profit of 1.09725 and Stop Loss of 1.10600

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.10600, with Take Profit of 1.11075 and Stop Loss of 1.10225