Technical analysis AUDCAD for 03.07.2023
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.89120. The closest support is the level 0.87940
Key levels
- 0.90590, 0.89860, 0.89120, 0.87940, 0.87220
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.89120, with Take Profit of 0.89860 and Stop Loss of 0.88600
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.87940, with Take Profit of 0.87220 and Stop Loss of 0.88600
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.