Technical analysis EURAUD for 04.05.2023

The Tenkan-sen line is located below the Kijun-sen line. 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 above the Tenkan-se and Kijun-sen lines. The closest support is the level 1.65650. The closest resistance is the level 1.66450

Key levels

• 1.67400, 1.66450, 1.65650, 1.64900, 1.63825

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 1.66450, with Take Profit of 1.67400 and Stop Loss of 1.65650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 1.64900, with Take Profit of 1.63825 and Stop Loss of 1.65650