Technical analysis AUDUSD for 07.06.2022

The Tenkan-sen line approaches above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.72210. The closest support is the level 0.71660

Key levels

• 0.72890, 0.72590, 0.72210, 0.71660, 0.71120, 0.70830

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.72210, with Take Profit of 0.72590 and Stop Loss of 0.71950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.71660, with Take Profit of 0.71120 and Stop Loss of 0.71950