Technical analysis AUDNZD for 12.05.2023
Intraday
Technical
The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located below the Kijun-sen line. Both lines are 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 1.06275. The closest resistance is the level 1.06450
Key levels
- 1.06850, 1.06625, 1.06450, 1.06275, 1.06075
Trading scenario
- Recommended opening short positions (Sell Stop) from the level of 1.06275, with Take Profit of 1.06075 and Stop Loss of 1.06450
Alternative scenario
- Recommended opening long positions (Buy Stop) from the level of 1.06450, with Take Profit of 1.06625 and Stop Loss of 1.06275
Scenario
Recommendation
SELL STOP
Entry Point
1.06275
Take Profit
1.06075
Stop Loss
1.06450
Key Levels
1.06850, 1.06625, 1.06450, 1.06275, 1.06075
Alternative scenario
Recommendation
BUY STOP
Entry Point
1.06450
Take Profit
1.06625
Stop Loss
1.06275
Author
Nikolai Krishtopov
Market Analyst & Marketing Manager, Investizo
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.