Technical analysis USDCHF for 05.10.2022

The Tenkan-sen line is located above the Kijun-sen line. 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 support is the level 0.98700. The closest resistance is the level 0.99275

Key levels

• 0.99925, 0.99275, 0.98700, 0.98275, 0.97650

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.98700, with Take Profit of 0.99275 and Stop Loss of 0.98275

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.98275, with Take Profit of 0.97650 and Stop Loss of 0.98700