Technical analysis USDCHF for 07.11.2023

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 traded between Tenkan-se and Kijun-sen lines. The closest support is the level 0.90050. The closest resistance is the level 0.90325

Key levels

• 0.90800, 0.90500, 0.90325, 0.90050, 0.89775

Trading scenario

• Recommended opening short positions (Sell Limit) from the level of 0.90325, with Take Profit of 0.90050 and Stop Loss of 0.90500

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 0.90500, with Take Profit of 0.90800 and Stop Loss of 0.90325