Technical analysis USDCHF for 01.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud turned over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.88900. The closest support is the level 0.88350

Key levels

• 0.90200, 0.89600, 0.88900, 0.88350, 0.87940, 0.87190

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88900, with Take Profit of 0.89600 and Stop Loss of 0.88650

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88350, with Take Profit of 0.87940 and Stop Loss of 0.88650