Technical analysis AUDCHF for 04.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.57025. The closest resistance is the level 0.57250

Key levels

• 0.57575, 0.57400, 0.57250, 0.57025, 0.56875, 0.56625

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.57250 and Stop Loss of 0.57025

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.56875, with Take Profit of 0.56625 and Stop Loss of 0.57025