Technical analysis USDCHF for 21.11.2023

The Tenkan-sen line is located below the Kijun-sen line. Both lines are horizontal. 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 0.88490. The closest support is the level 0.87970

Key levels

• 0.89300, 0.88880, 0.88490, 0.87970, 0.87610, 0.87270

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88490, with Take Profit of 0.88880 and Stop Loss of 0.88200

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87970, with Take Profit of 0.87610 and Stop Loss of 0.88200