Technical analysis USDCHF for 04.12.2023

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 traded between Tenkan-se and Kijun-sen lines. The closest resistance is the level 0.87970

Key levels

• 0.88880, 0.88490, 0.87970, 0.86910, 0.86470, 0.86000

Trading scenario

• Recommended opening long positions (Buy Stop) from the level of 0.87970, with Take Profit of 0.88490 and Stop Loss of 0.87500

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.86910, with Take Profit of 0.86470 and Stop Loss of 0.87500