Technical analysis AUDUSD for 16.12.2021
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart
Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The merged Tenkan-se and Kijun-sen lines are strong support.. The closest resistance is the level 0.7180
Key levels
- 0.7370, 0.7285, 0.7230, 0.7180, 0.7130, 0.7080, 0.7000
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.7180, with Take Profit of 0.7230 and Stop Loss of 0.7150
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.7130, with Take Profit of 0.7080 and Stop Loss of 0.7140
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.