Technical analysis USDCHF for 20.03.2024

The Tenkan-sen line is located above the Kijun-sen line. Both lines are horizontal. Confirmatory line Chikou Span is 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 0.88900. The closest resistance is the level 0.89200

Key levels

• 0.89500, 0.89200, 0.88900, 0.88700, 0.88500

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.88900, with Take Profit of 0.89200 and Stop Loss of 0.88700

Alternative scenario

• Recommended opening short positions (Sell Stop) from the level of 0.88700, with Take Profit of 0.88500 and Stop Loss of 0.88900