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- USD/CHF remains under pressure
USD/CHF remains under pressure
Today, the USD/CHF pair remains under pressure on the hourly chart, showing a pronounced downward trend on the hourly chart. The price has firmly consolidated below the MA (200) H1 moving average, which confirms the dominance of sellers. After the breakdown of support at 0.8310, the decline intensified, and quotes reached the 0.8210 zone, from which a local recovery attempt began. The MACD indicator shows the beginning of a reversal: the histogram has begun to grow and is approaching the zero line, which indicates a decrease in sales momentum and a possible correction phase. The overall background remains bearish as long as the price is trading below 0.8310 and the MA (200) H1 moving average.
Resistance levels are: 0.8270, 0.8310, 0.8365
Support levels are: 0.8210, 0.8185, 0.8115
The main scenario for the pair's advance suggests a breakout of the session low of 0.8210 and a possible decline to 0.8185 (May 7 low).
An alternative scenario implies a breakout of the 0.8270 support (May 9 low) and there may be an increase to 0.8310 (low of the European session on May 20)
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