Technical analysis AUDCAD for 06.09.2023
06.09.2023 01:18
Intraday
Technical
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 trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87730. The closest support is the level 0.86460
Key levels
- 0.89700, 0.88740, 0.87730, 0.86460, 0.85320
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.87730, with Take Profit of 0.88740 and Stop Loss of 0.87110
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.86460, with Take Profit of 0.85320 and Stop Loss of 0.87110
Scenario
Recommendation
BUY STOP
Entry Point
0.87730
Take Profit
0.88740
Stop Loss
0.87110
Key Levels
0.89700, 0.88740, 0.87730, 0.86460, 0.85320
Alternative scenario
Recommendation
SELL STOP
Entry Point
0.86460
Take Profit
0.85320
Stop Loss
0.87110