USD/CHF maintains a downward trend

Today, the USD/CHF pair is in a downward trend on the hourly chart, as evidenced by a consistent decline in highs and lows, as well as a stable price position below the moving average of MA (200) H1. After a sharp drop below the level of 0.8270, the pair reached the support zone of 0.8195, from where it began to form a weak consolidation with attempts to rebound upward. However, the upward momentum still looks limited. The MACD indicator shows the beginning of the histogram growth, which indicates a weakening of bearish pressure and a possible short-term stabilization. Nevertheless, for now, the overall technical picture remains in favor of sellers, especially in the absence of a confident recovery above 0.8270 and continued pressure from the moving average. To change the short-term vector, a steady exit above 0.8310 and consolidation above 0.8365 is needed, which is unlikely so far without strong external factors. The support at 0.8195 remains key for the bears: its breakdown may strengthen the downtrend.

Resistance levels are: 0.8230, 0.8270, 0.8310

Support levels are:  0.8185-95, 0.8115, 0.8040

The main scenario for the pair's advance suggests a breakout of the 0.8185-95 area (May 7 low, session low) and there may be a decline to 0.8115 (April 16 low).

An alternative scenario implies a breakout of the session high of 0.8230 and there may be an increase to 0.8270 (high of the European session on May 23)