Technical analysis USDCHF for 06.09.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.89600. The closest support is the level 0.88900

Key levels

• 0.95700, 0.90200, 0.89600, 0.88900, 0.88350, 0.87940

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.89600, with Take Profit of 0.90200 and Stop Loss of 0.89350

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88900, with Take Profit of 0.88350 and Stop Loss of 0.89350