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- USD/CHF shows a decline
USD/CHF shows a decline
Today, on the hourly chart, the USD/CHF pair is showing a decline, trading below the MA (200) h1 moving average, which indicates a predominance of bearish sentiment. The price failed to gain a foothold above the level of 0.8370 and continued its downward movement, falling to the support of 0.8320, where there is a weak consolidation. The MACD indicator is in the negative zone and intensifies the decline, confirming the dominance of sellers. At the same time, growth attempts are limited to resistance around 0.8370 and 0.8400, and only a breakdown above 0.8435 can change the current market structure to neutral. As long as the pair maintains a downward trend, further weakening remains likely, especially if the negative momentum increases against the background of dollar weakness.
Resistance levels are: 0.8370, 0.8400, 0.8435
Support levels are: 0.8320, 0.8270, 0.8225
The main scenario for the pair's advance suggests a breakout of the session high of 0.8370 and there may be an increase to 0.8400 (May 16 high).
An alternative scenario implies a breakout of the session low of 0.8320 and a possible decline to 0.8270 (May 9 low)
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