Technical analysis AUDCHF for 10.08.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.57590. The closest support is the level 0.56720

Key levels

• 0.59100, 0.58550, 0.57590, 0.56720, 0.56110, 0.55750

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.57590, with Take Profit of 0.58550 and Stop Loss of 0.57150

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.56720, with Take Profit of 0.56110 and Stop Loss of 0.57150