Technical analysis EURAUD for 06.06.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. 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 support is the level 1.4775. The closest resistance is the level 1.4870

Key levels

• 1.5277, 1.5125, 15035, 1.4955, 1.4870, 1.4775, 1.4620

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.4870, with Take Profit of 1.5035 and Stop Loss of 1.4775

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.4775, with Take Profit of 1.4620 and Stop Loss of 1.4870