Technical analysis AUDCAD for 22.08.2023
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below the price chart
The Tenkan-sen line is located above the Kijun-sen line. Blue is directed downward, while red remains horizontal. Confirmatory line Chikou Span is below 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 0.87700. The closest support is the level 0.86150
Key levels
- 0.90320, 0.89010, 0.87700, 0.86150, 0.84850
Trading scenario
- Recommended opening long positions (Buy Stop) from the level of 0.87700, with Take Profit of 0.89010 and Stop Loss of 0.86950
Alternative scenario
- Recommended opening short positions (Sell Stop) from the level of 0.86150, with Take Profit of 0.84850 and Stop Loss of 0.86950
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.