Technical analysis USDCHF for 13.03.2024

The Tenkan-sen line is located above the Kijun-sen line. Blue is directed downward, while red remains 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 0.88140. The closest support is the level 0.87420

Key levels

0.88780, 0.88460, 0.88140, 0.87420, 0.86890, 0.86400

Trading scenario

Recommended opening long positions (Buy Stop) from the level of 0.88140, with Take Profit of 0.88460 and Stop Loss of 0.87750

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 0.87420, with Take Profit of 0.86890 and Stop Loss of 0.87750