Technical analysis USDCHF for 29.11.2023

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 trading below the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87970. The closest support is the level 0.87270

Key levels

• 0.88880, 0.88490, 0.87970, 0.87270, 0.86910, 0.86470

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87970, with Take Profit of 0.88490 and Stop Loss of 0.87600

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87270, with Take Profit of 0.86910 and Stop Loss of 0.87600