Technical analysis USDCHF for 05.07.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above 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 0.9585. The closest resistance is the level 0.9610

Key levels

• 0.9730, 0.9680, 0.9640, 0.9615, 0.9585, 0.9550, 0.9495

Trading scenario

• Recommended opening short positions (Sell) at the current price, with Take Profit of 0.9550 and Stop Loss of 0.9640

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9640, with Take Profit of 0.9680 and Stop Loss of 0.9615