Technical analysis AUDCAD for 30.08.2022

The Tenkan-sen line is located below 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 support is the level 0.9880. The closest resistance is the level 0.9005

Key levels

• 0.9095, 0.9040, 0.9005, 0.8950, 0.8915, 0.8865

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9005, with Take Profit of 0.9040 and Stop Loss of 0.8980

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.8980  with Take Profit of 0.8950 and Stop Loss of 0.9005