Technical analysis AUDCHF for 15.08.2023

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 descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.57420. The closest support is the level 0.56480

Key levels

• 0.58550, 0.57770, 0.57420, 0.56480, 0.56020, 0.55680

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.57420, with Take Profit of 0.57770 and Stop Loss of 0.56750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.56480, with Take Profit of 0.56020 and Stop Loss of 0.56750