Technical analysis AUDNZD for 08.09.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 1.11225. The closest resistance is the level 1.11650

Key levels

• 1.12550, 1.12100, 1.11650, 1.11225, 1.10750

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.11225, with Take Profit of 1.10750 and Stop Loss of 1.11650

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.11650, with Take Profit of 1.12100 and Stop Loss of 1.11225