Technical analysis USDCHF for 19.05.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.96575. The closest resistance is the level 0.97275

Key levels

• 1.00100, 0.99325, 0.98725, 0.97925, 0.97275, 0.96575, 0.95950

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.96575 and Stop Loss of 0.97925

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.97925, with Take Profit of 0.98725 and Stop Loss of 0.97275