Technical analysis AUDNZD for 18.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. 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 1.10450. The closest resistance is the level 1.11000

Key levels

• 1.11700, 1.11000, 1.10450, 1.10000, 1.09425, 1.08850

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.10450, with Take Profit of 1.11000 and Stop Loss of 1.10000

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.10000, with Take Profit of 1.09425 and Stop Loss of 1.10450