Technical analysis AUDUSD for 01.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are 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 support is the level 0.7025. The closest resistance is the level 0.7070

Key levels

• 0.7140, 0.7070, 0.7025, 0.6990, 0.6960, 0.6915, 0.6860

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.7070, with Take Profit of 0.7140 and Stop Loss of 0.7025

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.7025, with Take Profit of 0.6960 and Stop Loss of 0.7070