Technical analysis USDCHF for 10.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.87200. The closest resistance is the level 0.87725

Key levels

• 0.88175, 0.87725, 0.87200, 0.86950, 0.86575

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87200, with Take Profit of 0.87725 and Stop Loss of 0.86950

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86950, with Take Profit of 0.86575 and Stop Loss of 0.87200