Technical analysis AUDUSD for 16.01.2023

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 ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.70200. The closest support is the level 0.69370

Key levels

• 0.71110, 0.70660, 0.70200, 0.69370, 0.69040, 0.68680

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.70200, with Take Profit of 0.70660 and Stop Loss of 0.69750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.69370, with Take Profit of 0.69040 and Stop Loss of 0.69750