Technical analysis USDCHF for 16.10.2024

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 0.86200. The closest resistance is the level 0.86475

Key levels

• 0.86850, 0.86475, 0.86200, 0.86075, 0.85750

Trading scenario

• Recommended opening long positions (Buy Limit) from the level of 0.86200, with Take Profit of 0.86475 and Stop Loss of 0.86075

Alternative scenario

Recommended opening short positions (Sell Stop) from the level of 0.86075, with Take Profit of 0.85750 and Stop Loss of 0.86200