Technical analysis AUDUSD for 07.11.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.65110. The closest support is the level 0.64280

Key levels

• 0.66160, 0.65640, 0.65110, 0.64280, 0.63890, 0.63290

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.65110, with Take Profit of 0.65640 and Stop Loss of 0.64650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.64280, with Take Profit of 0.63890 and Stop Loss of 0.64650