Technical analysis AUDCAD for 26.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.90210. The closest support is the level 0.88780

Key levels

• 0.91000, 0.90210, 0.88780, 0.87990, 0.87230

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.90210, with Take Profit of 0.91000 and Stop Loss of 0.89520

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88780, with Take Profit of 0.87990 and Stop Loss of 0.89520