Technical analysis AUDCAD for 27.06.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 resistance is the level 0.88600. The closest support is the level 0.87060

Key levels

• 0.91020, 0.89760, 0.88600, 0.87060, 0.86270

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88600, with Take Profit of 0.89760 and Stop Loss of 0.87780

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87060, with Take Profit of 0.86270 and Stop Loss of 0.87780