Technical analysis AUDUSD for 06.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.6770. The closest resistance is the level 0.6820

Key levels

• 0.7045, 0.6960, 0.6905, 0.6865, 0.6820, 0.6770, 0.6682

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6820, with Take Profit of 0.6905 and Stop Loss of 0.6770

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.6770, with Take Profit of 0.6682 and Stop Loss of 0.6820