On the hourly chart today, the USD/CHF pair continues to be under pressure within the downtrend. There is a steady downward trend on the hourly chart with a consistent update of local lows. The pair is trading below the MA (200) H1 moving average (0.8415), which is directed downwards, which confirms the dominance of bears in the market. The MACD indicator with parameters shows a slight recovery, but the histogram still fluctuates near zero, which indicates a lack of pronounced strength among buyers and a possible continuation of consolidation or decline. The overall picture indicates a prevailing bearish mood, with minor upward pullbacks possible as part of a technical correction.
Resistance levels are: 0.8270, 0.8415, 0.8585
Support levels are: 0.8100, 0.7715, 0.7080
The main scenario for the pair's advance suggests a breakout of the support 0.8100 (April 11 low) and a possible decline to 0.7715 (Sep 2’ 2011 low)
An alternative scenario implies a breakout of the resistance 0.8270 (April 14 high) and there may be an increase towards the MA (200) H1 (0.8415)
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