Technical analysis USDCHF for 04.01.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span crosses bottom upward the price chart. In this case, the cloud turned over from descending to ascending. Instrument entered the cloud. The closest support is the level 0.9155. The closest resistance is the level 0.9195

Key levels

• 0.9375, 0.9335, 0.9305, 0.9265, 0.9230, 0.9195, 0.9155, 0.9120, 0.9085

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9195, with Take Profit of 0.9265 and Stop Loss of 0.9155

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.9155, with Take Profit of 0.9120 and Stop Loss of 0.9195