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- USD/CHF remains under pressure
USD/CHF remains under pressure
On the hourly chart, the USD/CHF pair is under pressure and shows a steady downward trend. After the breakdown of support at 0.8080, the price accelerated its decline and reached the area of 0.7980, where there is an attempt at a corrective pullback. Quotes are confidently trading below the MA (200) H1 moving average, which indicates the predominance of "bearish" sentiment. The MACD indicator is in the negative zone, and the histogram increases the decline, which confirms the presence of a downward momentum. The nearest resistance is now located around 0.8035, and overcoming it may weaken the current downward trend. However, as long as the price remains below 0.8080 and 0.8130, selling pressure remains, and a resumption of decline towards the 0.7980 support is likely.
Resistance levels are: 0.8035, 0.8080, 0.8130
Support levels are: 0.7980, 0.7825, 0.7715
The main scenario for the pair's advance suggests a breakout of the session low of 0.7980 and a possible decline to 0.7825 (Sep 5’ 2011 low)
An alternative scenario implies a breakout of the resistance of 0.8035 (June 24 low) and there may be an increase to 0.8080 (June 25 high)
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