Technical analysis USDCHF for 29.08.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed downward, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.88350. The closest support is the level 0.87940

Key levels

• 0.89600, 0.88900, 0.88350, 0.87940, 0.87190, 0.86170

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88350, with Take Profit of 0.88900 and Stop Loss of 0.88250

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87940, with Take Profit of 0.87190 and Stop Loss of 0.88250