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- USD/CHF continues to be under pressure
USD/CHF continues to be under pressure
On the hourly chart, the USD/CHF pair continues to show a steady downward trend, updating the lows and approaching the support level of 0.7870. The price remains below the MA (200) H1 moving average, which confirms the dominance of the bearish trend. The last candlesticks indicate weak attempts to rebound from the indicated level, but so far without a confident reversal. The MACD indicator is in the negative zone, and the histogram is expanding downwards, which indicates a continuing bearish momentum. The nearest resistance is located around 0.7960, and only a breakdown above this level can weaken the current downward trend. As long as the price remains below 0.7870, there remains a risk of further decline towards new lows.
Resistance levels are: 0.7960, 0.8020, 0.8080
Support levels are: 0.7870, 0.7825, 0.7715
The main scenario for the pair's advance suggests a breakout of the session low of 0.7870 and a possible decline to 0.7825 (Sep 5’ 2011 high)
An alternative scenario implies a breakout of the resistance 0.7960 (June 27 low) and there may be an increase to 0.8020 (June 27 high)
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