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- USD/CHF shows a decline
USD/CHF shows a decline
Today, the USD/CHF pair is developing a downward correction on the hourly chart after reaching a local maximum around 0.8435. The price has fallen below the MA (200) H1 moving average, which now acts as a dynamic resistance and runs near the 0.8365 level. The current chart structure indicates a predominance of bearish sentiment, as the price holds below this midline and forms downward peaks. The MACD indicator is in the negative zone, confirming the predominance of the downward momentum. The histogram remains predominantly red, and there are no signs of a reversal yet, which increases the likelihood of further weakening of the pair. The overall technical picture points to a bearish mood with the potential for further decline if the price does not return above the 0.8365 zone and the 200-period moving average.
Resistance levels are: 0.8365, 0.8400, 0.8435
Support levels are: 0.8310, 0.8270, 0.8225
The main scenario for the pair's advance suggests a breakout of the resistance 0.8365 (May 19 high) and there may be an increase to 0.8400 (May 16 high).
An alternative scenario implies a breakout of the session low of 0.8310 and a possible decline to 0.8270 (May 9 low)
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