Technical analysis USDCHF for 02.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.96050. The closest support is the level 0.94970

Key levels

• 0.96800, 0.96420, 0.96050, 0.94970, 0.94450, 0.93740

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.96050, with Take Profit of 0.96420 and Stop Loss of 0.95450

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.94970, with Take Profit of 0.94450 and Stop Loss of 0.95450