Technical analysis USDCHF for 02.01.2024

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 above the Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.85180. The closest support is the level 0.84440

Key levels

• 0.86290, 0.85770, 0.85180, 0.84440, 0.83960, 0.83500

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.85180, with Take Profit of 0.85770 and Stop Loss of 0.84800

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.84440, with Take Profit of 0.83960 and Stop Loss of 0.84800