Technical analysis EURCHF for 20.06.2023

The Tenkan-sen line is located above the Kijun-sen line. Both lines are directed upwards. Confirmatory line Chikou Span crossed and fixed above the price chart. In this case, the cloud is ascending. Instrument is trading above the Tenkan-se and Kijun-sen lines. The closest support is the level 0.97750. The closest resistance is the level 0.97950

Key levels

• 0.98125, 0.97950, 0.97750, 0.97650, 0.97525

Trading scenario

• Recommended opening long positions (Buy) at the current price, with Take Profit of 0.97950 and Stop Loss of 0.97750

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.97650, with Take Profit of 0.97525 and Stop Loss of 0.97750