Technical analysis AUDNZD for 04.05.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains 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 1.06850. The closest resistance is the level 1.07150

Key levels

• 1.07700, 1.07450, 1.07150, 1.06850, 1.06450, 1.05925

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 1.06850, with Take Profit of 1.06450 and Stop Loss of 1.07150

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.07150, with Take Profit of 1.07450 and Stop Loss of 1.06850