Technical analysis EURCHF for 07.07.2022

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 descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 0.98775. The closest resistance is the level 0.99250

Key levels

• 1.00225, 0.99750, 0.99250, 0.98775, 0.98325, 0.97875

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.98775, with Take Profit of 0.98325 and Stop Loss of 0.99250

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.99250, with Take Profit of 0.99750 and Stop Loss of 0.98775