Technical analysis AUDCAD for 19.10.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87400. The closest support is the level 0.86400

Key levels

• 0.88680, 0.88170, 0.87400, 0.86400, 0.86100, 0.85720

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87400, with Take Profit of 0.88170 and Stop Loss of 0.86900

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86400, with Take Profit of 0.86100 and Stop Loss of 0.86900