USD/CHF fell to the lows of September 2011

Today, on the hourly chart, the USD/CHF pair is showing a steady downward trend, continuing to move within the bearish channel and updating local lows. The pair reached the lows of September 2022. The price has firmly consolidated below the important support level of 0.8100, approaching the next key level of 0.8040, which is currently being tested. The moving average of the MA (200) H1 (0.8330) periods is moving down, well above current prices, which indicates the dominance of bears and the absence of signs of a reversal in the short term. The MACD indicator reinforces the negative picture: the histogram is steadily growing in the negative zone, and the red bars indicate an increasing downward momentum. The technical picture still remains in favor of sellers.

Resistance levels are: 0.8100, 0.8330, 0.8370

Support levels are: 0.8040, 0.7715, 0.7080

The main scenario for the pair's advance suggests a breakout of the session low of 0.8100 and a possible decline to 0.7715 (Sept 2’ 2011 low) 

An alternative scenario implies a breakout of the resistance 0.8100 (April 11 low), an increase to MA (200) H1 (0.8330) and then, maybe, to 0.8270 (April 14 high)