USD/CHF remains below MA (200) H1

The USD/CHF pair maintains a downward trend on the hourly chart, confirmed by the price's location below the MA (200) H1 moving average. After a sharp drop from the 0.8350 level, the price reached the support zone near 0.8190, from where the correction phase began. Currently, the price is trading around 0.8245, demonstrating an attempt at recovery, however, the 0.8255 level, which coincides with the moving average line, represents the nearest resistance. Overcoming it may give a short-term growth impulse towards the level of 0.8305. The MACD indicator shows the growth of the histogram in a positive zone, which signals a growing buying impulse, but does not yet give confidence in a trend reversal. In the case of a downward pullback, the 0.8225 and 0.8190 levels will again act as support. The overall picture remains bearish, despite the current correction phase, and a price consolidation above 0.8305 will be required to change direction.

Resistance levels are: 0.8255, 0.8305, 0.8350

Support levels are: 0.8190-0.8200, 0.8115, 0.8040

The main scenario for the pair's advance suggests a breakout of the support 0.8190-0.8200 (May 27 low, session low) and there may be a decline to 0.8115 (April 16 low).

An alternative scenario implies a breakout of MA (200) H1 (0.8255) and there may be an increase to 0.8305 (May 22 high) and 0.8350 (May 29 high)