Technical analysis USDCHF for 26.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed 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 0.89250. The closest resistance is the level 0.89500

Key levels

• 0.90050, 0.89800, 0.89500, 0.89250, 0.88950

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 0.89250, with Take Profit of 0.88950 and Stop Loss of 0.89500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.89500, with Take Profit of 0.89800 and Stop Loss of 0.89250