Technical analysis AUDCAD for 27.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.89800. The closest support is the level 0.89230

Key levels

• 0.90510, 0.90130, 0.89800, 0.89230, 0.88870, 0.88570

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.89800, with Take Profit of 0.90130 and Stop Loss of 0.89500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.89230, with Take Profit of 0.88870 and Stop Loss of 0.89500