Technical analysis USDCHF for 11.08.2022

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 0.9430. The closest resistance is the level 0.9445

Key levels

• 0.9605, 0.9550, 0.9515, 0.9470, 0.9445, 0.9430, 0.9430, 0.9335

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.9430, with Take Profit of 0.9380 and Stop Loss of 0.9445

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9445, with Take Profit of 0.9470 and Stop Loss of 0.9430