Technical analysis AUDUSD for 21.10.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from ascending to descending. Instrument consolidates at the bottom of the cloud. The closest support is the level 0.6180. The closest resistance is the level 0.6300

Key levels

• 0.6830, 0.6665, 0.6480, 0.6400, 0.6300, 0.6180, 0.5985

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.6180 and Stop Loss of 0.6300

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.6380, with Take Profit of 0.6480 and Stop Loss of 0.6300