Technical analysis USDCHF for 17.05.2022

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crosses from top to bottom 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 0.9907. The closest resistance is the level 0.9969

Key levels

• 1.0067, 1.0010, 0.9969, 0.9907, 0.9866, 0.9831

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.9907, with Take Profit of 0.9969 and Stop Loss of 0.9866

Alternative scenario

• Recommended opening short positions (Sell Limit) from the level of 0.9969, with Take Profit of 0.9907 and Stop Loss of 1.0010