Technical analysis AUDUSD for 05.12.2023

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 trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.66050. The closest resistance is the level 0.66400

Key levels

• 0.66700, 0.66400, 0.66050, 0.65875, 0.65650

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.66050, with Take Profit of 0.66400 and Stop Loss of 0.65875

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.65875, with Take Profit of 0.65650 and Stop Loss of 0.66050