Technical analysis AUDNZD for 18.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 and resistance levels are Kijun-sen and Tenkan-se, respectively. The closest resistance is the level 1.1155

Key levels

• 1.1255, 1.1191, 1.1155, 1.1120, 1.1050

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.1120, with Take Profit of 1.1050 and Stop Loss of 1.1155

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.1191, with Take Profit of 1.1255 and Stop Loss of 1.1155