Technical analysis USDCHF for 09.08.2022

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span crossed and fixed below the price chart. In this case, the cloud is ready to roll over from ascending to descending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.9515. The closest resistance is the level 0.9550

Key levels

• 0.9605, 0.9550, 0.9515, 0.9470, 0.9430

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.9515, with Take Profit of 0.9470 and Stop Loss of 0.9550

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9550, with Take Profit of 0.9605 and Stop Loss of 0.9515