Technical analysis AUDNZD for 21.10.2022

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 1.1050. The closest resistance is the level 1.1120

Key levels

• 1.1255, 1.1191, 1.1155, 1.1120, 1.1050, 1.1025, 1.0985

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 1.1120 and Stop Loss of 1.1025

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.1025, with Take Profit of 1.09885 and Stop Loss of 1.1050