Technical analysis USDCHF for 18.10.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.90050. The closest support is the level 0.89550

Key levels

• 0.90660, 0.90330, 0.90050, 0.89550, 0.89300, 0.88990

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.90050, with Take Profit of 0.90330 and Stop Loss of 0.89800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.89550, with Take Profit of 0.89300 and Stop Loss of 0.89800