Technical analysis AUDUSD for 02.02.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span crosses bottom upward 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 0.71950. The closest support is the level 0.71000

Key levels

• 0.73170, 0.72590, 0.71950, 0.71000, 0.70530, 0.70060

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.71950, with Take Profit of 0.72590 and Stop Loss of 0.71450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.71000, with Take Profit of 0.70530 and Stop Loss of 0.71450