Technical analysis AUDUSD for 03.10.2023

The Tenkan-sen line is located above 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 ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.63450. The closest resistance is the level 0.63675

Key levels

• 0.64050, 0.63850, 0.63675, 0.63450, 0.63250

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.63675, with Take Profit of 0.63450 and Stop Loss of 0.63850

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.63850, with Take Profit of 0.64050 and Stop Loss of 0.63675