Technical analysis AUDNZD for 05.07.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument adjusted to the upper border of the cloud. The closest support is the level 1.1040. The closest resistance is the level 1.1065

Key levels

• 1.1165, 1.1120, 1.1085, 1.1065, 1.1040, 1.1010, 1.0960

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 1.1040 and Stop Loss of 1.1085

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.1085, with Take Profit of 1.1120 and Stop Loss of 1.1065