Technical analysis AUDCAD for 09.08.2023
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains horizontal. Confirmatory line Chikou Span is above the price chart
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed upwards, while red remains horizontal. 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 0.88580. The closest support is the level 0.87160
Key levels
- 0.90510, 0.89560, 0.88580, 0.87160, 0.85990
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.88580, with Take Profit of 0.89560 and Stop Loss of 0.87870
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.87160, with Take Profit of 0.85990 and Stop Loss of 0.87870
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.