USD/CHF demonstrates a recovery attempt

On the hourly chart, the USD/CHF pair is showing an attempt to recover from a prolonged downtrend. The price broke through local resistance levels and came close to the MA (200) H1 moving average, which now acts as a key resistance in the 0.7990 area. A steady consolidation above this level may signal a change in the short-term trend and open the way to the next target near 0.8020. The MACD indicator confirms the positive momentum: the histogram continues to grow in the positive zone, indicating a predominance of bullish sentiment. However, it is important to take into account that MA (200) H1 is still directed downwards, and the trend remains negative until the price is fixed higher. In the event of a pullback, the nearest support is the 0.7900 level, and its breakdown may lead to a return of downward pressure. In general, the pair is forming a reversal attempt, but to confirm sustainable growth, it is necessary to overcome key resistances and exit the long-term decline zone.

Resistance levels are: 0.7990, 0.8020, 0.8080

Support levels are:  0.7900, 0.7870, 0.7825

The main scenario for the pair's advance suggests a breakout of the support 0.7900 (July 3 low) and a possible decline to 0.7870 (July 3 low) 

An alternative scenario implies a breakout of the resistance 0.7990 (July 3 high) and there may be an increase to 0.8020 (June 27 high)