USD/CHF remains below MA (200) H1

Today, on the hourly chart, the USD/CHF pair is showing a steady recovery after a prolonged downtrend, but the overall structure remains bearish, as the price remains below the moving average of MA (200) H1, which is directed downward and indicates the dominance of sellers in the medium term. The upward momentum of the last few hours allowed the pair to test the resistance level of 0.8275, near which consolidation is currently taking place. The MACD indicator shows a growing histogram in the positive zone, signaling the presence of bullish strength and the continuation of the current upward movement. However, as long as the price remains below the moving average, the risks of a return to decline remain, especially with the formation of bearish signals in the resistance zone.

Resistance levels are: 0.8275, 0.8310, 0.8365

Support levels are:  0.8190, 0.8115, 0.8040

The main scenario for the pair's advance suggests a decline to 0.8190 (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 0.8270 and there may be an increase to 0.8310 (May 22 high)