Technical analysis USDCHF for 29.08.2022

Tenkan-sen and Kijun-sen lines are merged. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the lower border of the cloud

Key levels

• 0.9857, 0.9765, 0.9710, 0.9665, 0.9620, 9560, 0.9470

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.9710, with Take Profit of 0.9765 and Stop Loss of 0.9665

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.9665, with Take Profit of 0.9560 and Stop Loss of 0.9710