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- USD/CHF continues steady decline
USD/CHF continues steady decline
On the hourly chart, the USD/CHF pair continues its steady decline, being under the moving average of MA (200) H1, which confirms the dominance of the downtrend. After a brief consolidation around 0.8250, the price resumed its decline and reached support at 0.8155, from which there was a slight rebound up to 0.8180. Despite the attempt to stabilize, the movement structure remains bearish, and any recovery is still perceived as a correction within the framework of the decline.
The MACD indicator is deep in the negative zone, the histogram is expanding downwards, indicating steady selling pressure and no signs of a reversal. The overall technical picture speaks in favor of continuing the decline, if there is no breakdown of the key resistance.
Resistance levels are: 0.8250, 0.8305, 0.8350
Support levels are: 0.8155, 0.8115, 0.8040
The main scenario for the pair's advance suggests a breakout of the session low of 0.8155 and there may be a decline to 0.8115 (April 16 low).
An alternative scenario implies a breakout of the 0.8250 resistance (May 30 high) and there may be an increase to 0.8305 (May 22 high)
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