Technical analysis USDCHF for 18.07.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. 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 resistance is the level 0.86200. The closest support is the level 0.85200

Key levels

• 0.88390, 0.87830, 0.86200, 0.85200, 0.84500, 0.84000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.86200, with Take Profit of 0.87830 and Stop Loss of 0.85600

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.85200, with Take Profit of 0.84500 and Stop Loss of 0.85600