Technical analysis AUDCAD for 13.10.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.86810. The closest support is the level 0.86080

Key levels

• 0.88090, 0.87470, 0.86810, 0.86080, 0.85340

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.86810, with Take Profit of 0.87470 and Stop Loss of 0.86450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86080, with Take Profit of 0.85340 and Stop Loss of 0.86450