Technical analysis AUDCHF for 30.08.2023

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.56800. The closest resistance is the level 0.57000

Key levels

• 0.57500, 0.57200, 0.57000, 0.56800, 0.56550

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.57000, with Take Profit of 0.56800 and Stop Loss of 0.57200

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.57200, with Take Profit of 0.57500 and Stop Loss of 0.57000