Technical analysis AUDCHF for 06.10.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 support is the level 0.58025. The closest resistance is the lower border of the cloud

Key levels

• 0.58525, 0.58300, 0.58025, 0.57850, 0.57600

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.58025, with Take Profit of 0.58300 and Stop Loss of 0.57850

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.57850, with Take Profit of 0.57600 and Stop Loss of 0.58025