USD/CHF remains below MA (200) H1

Today, there is a strong downward movement on the hourly chart of the USD/CHF currency pair, which began on April 2, after which the price fell sharply from around 0.8725 and reached a low near 0.8450. There was an upward rebound from this level, but the growth turned out to be limited by the 0.8625 resistance zone, from which the price repeatedly bounced. At the moment, the quotes are fluctuating in the range of 0.8540-0.8605, showing signs of consolidation after a strong fall. The MA (200) H1 moving average (0.8725) is well above the price and is directed downwards, indicating a continuing bearish trend. The MACD indicator shows a weak upward momentum with the histogram moving into a positive zone, but signs of a slowdown may indicate insufficient buyer strength. If the price breaks through the 0.8540 support, it will confirm the market's readiness to resume the downtrend with a target at 0.8450. In case of an upward breakdown of the 0.8625 resistance, the path to 0.8670 will open, but in the current conditions this looks less likely. The overall picture remains bearish, despite local signs of stabilization.

Resistance levels are: 0.8625, 0.8670, 0.8700

Support levels are: 0.8540, 0.8450, 0.8430

The main scenario for the pair's advance suggests a breakout of the session low of 0.8540 and a possible decline to 0.8450 (April 7 low) 

An alternative scenario implies a breakout of the resistance 0.8625 (April 4 high) and there may be an increase to 0.8670 (April 7 high)