Technical analysis AUDCAD for 21.06.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span crosses from top to bottom the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.90240. The closest support is the level 0.89410

Key levels

• 0.90980, 0.90650, 0.90240, 0.89410, 0.88970, 0.88400

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.90240, with Take Profit of 0.90650 and Stop Loss of 0.89800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.89410, with Take Profit of 0.88970 and Stop Loss of 0.89800