Technical analysis AUDNZD for 01.05.2023

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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 1.06950. The closest resistance is the level 1.07175

Key levels

• 1.07700, 1.07400, 1.07175, 1.06950, 1.06675, 1.06375

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06950, with Take Profit of 1.06675 and Stop Loss of 1.07175

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07400, with Take Profit of 1.07700 and Stop Loss of 1.07200