Technical analysis AUDUSD for 07.09.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.63550. The closest resistance is the level 0.64000

Key levels

• 0.64675, 0.64325, 0.64000, 0.63550, 0.63150

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.64000, with Take Profit of 0.63550 and Stop Loss of 0.64325

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.64325, with Take Profit of 0.64675 and Stop Loss of 0.64000