Technical analysis AUDCAD for 19.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is below 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 0.90100. The closest support is the level 0.88350

Key levels

• 0.91990, 0.91000, 0.90100, 0.88350, 0.87480

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.90100, with Take Profit of 0.91000 and Stop Loss of 0.89230

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88350, with Take Profit of 0.87480 and Stop Loss of 0.89230