Technical analysis USDCHF for 07.03.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.92250. The closest resistance is the level 0.92525

Key levels

• 0.93150, 0.92750, 0.92525, 0.92250, 0.91900, 0.91525, 0.91117

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.92525 and Stop Loss of 0.92250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.92250, with Take Profit of 0.91900 and Stop Loss of 0.92525