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
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
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.