Technical analysis USDCHF for 07.12.2023

The Tenkan-sen line is located above the Kijun-sen line. Red is directed upwards, while blue remains horizontal. Confirmatory line Chikou Span is above the price chart. In this case, the cloud is ready to roll over from descending to ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.88490. The closest support is the level 0.87470

Key levels

• 0.89280, 0.88880, 0.88490, 0.87470, 0.87050, 0.86650

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.88490, with Take Profit of 0.88880 and Stop Loss of 0.87890

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.87470, with Take Profit of 0.87050 and Stop Loss of 0.87890