USD/CHF drops to New 6-month low

Today, there is a strong downward movement on the hourly chart of the USD/CHF currency pair, which began near the 0.8760 level and reached a new 6-month low near 0.8450. The decline was accompanied by an increase in the volume of bearish candles and a strong expansion of the MACD histogram below the zero line, which confirms the strength of the downward momentum. After reaching the bottom around 0.8450, the price began to recover and is now trading around 0.8555, demonstrating the bulls' attempts to regain control. However, the price is still below the moving average, which indicates the dominance of the bearish trend in a broader context. The MACD also remains in the negative zone for now, although it shows signs of slowing down - the histogram begins to shrink and turns green, which may indicate a possible short-term upward pullback. The overall picture indicates high volatility and uncertainty in the market, and in the event of a breakdown of the 0.85844 level, a more serious upward correction may begin.

Resistance levels are: 0.8585, 0.8625, 0.8700

Support levels are: 0.8450, 0.8430, 0.8400

The main scenario for the pair's advance suggests a breakout of the session low of 0.8450 and a possible decline to 0.8430 (Sep 30 low) 

An alternative scenario implies a breakout of the session high of 0.8585 and there may be an increase to 0.8625 (April 4 high)