Technical analysis AUDNZD for 01.12.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed 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 is the level 1.07575. The closest resistance is the level 1.08025

Key levels

• 1.08850, 1.08450, 1.08025, 1.07575, 1.07175, 1.06625

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 1.07575, with Take Profit of 1.08025 and Stop Loss of 1.07175

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.07175, with Take Profit of 1.06625 and Stop Loss of 1.07575