Technical analysis AUDUSD for 12.10.2022

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 0.62050. The closest resistance is the level 0.62775

Key levels

• 0.64900, 0.63850, 0.62775, 0.62050, 0.60600

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.62050, with Take Profit of 0.60600 and Stop Loss of 0.62775

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.62775, with Take Profit of 0.63850 and Stop Loss of 0.62050