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- USD/CHF continues steady decline
USD/CHF continues steady decline
On the hourly chart, the USD/CHF pair is trading near the 0.8210 level, showing signs of recovery after testing key support at 0.8155, from where the pair bounced back up. Despite the current growth, the overall trend remains downward: the price is below the MA (200) H1 moving average, passing near the 0.8250 level, which now acts as the nearest resistance. The MACD indicator shows a growing histogram above the zero line, which indicates an increase in bullish momentum in the short term. Nevertheless, before the breakdown of the 0.8250 resistance, the upward movement is considered as a correction within the downtrend. The overall picture remains cautiously bearish, but the short-term recovery phase may continue if momentum persists.
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 (June 2 low) and a possible decline to 0.8115 (April 16 low).
An alternative scenario implies a breakout of MA (200) H1 and resistance of 0.8250 (May 30 high) and there may be an increase to 0.8305 (May 22 high)
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