Technical analysis USDCHF for 07.08.2023

The Tenkan-sen line is located below the Kijun-sen line. Red is directed up, while blue is directed down. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87750. The closest support is the level 0.86780

Key levels

• 0.88900, 0.88340, 0.87750, 0.86780, 0.86170, 0.85730

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87750, with Take Profit of 0.88340 and Stop Loss of 0.87200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86780, with Take Profit of 0.86170 and Stop Loss of 0.87200