Technical analysis EURCHF for 13.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is below 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 1.03700. The closest resistance is the level 1.04300

Key levels

• 1.05575, 1.04900, 1.04300, 1.03700, 1.03150, 1.02700

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 1.04300, with Take Profit of 1.03700 and Stop Loss of 1.04470

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 1.04900, with Take Profit of 1.05575 and Stop Loss of 1.04300