Technical analysis AUDNZD for 31.05.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.09575. The closest resistance is the level 1.09725

Key levels

• 1.10075, 1.09900, 1.09725, 1.09575, 1.09425, 1.09250

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.09575, with Take Profit of 1.09425 and Stop Loss of 1.09725

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.09725, with Take Profit of 1.09900 and Stop Loss of 1.09575