Technical analysis USDCHF for 31.08.2022

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains 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 level 0.98090. The closest support is the level 0.97100

Key levels

• 0.99060, 0.98570, 0.98090, 0.97100, 0.96650, 0.96200

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.98090, with Take Profit of 0.98570 and Stop Loss of 0.97550

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.97100, with Take Profit of 0.96650 and Stop Loss of 0.97550