USD/CHF maintains a pronounced downward trend

On the hourly chart, the USD/CHF pair maintains a pronounced downward trend, remaining below the MA (200) H1 moving average, which confirms the dominance of sellers. After the breakdown of the 0.8080 support level and the subsequent decline below 0.8020, the price formed a series of lowered highs and lows characteristic of a downtrend. The current price is hovering at the local support of 0.7980, while attempts at corrective growth remain limited. The MACD indicator is in the negative zone, and the histogram shows a slight recovery, which may indicate a slowdown in the downward momentum, but there are no signs of a reversal yet. A steady breakout of the 0.7980 level downwards may increase pressure on the pair and open the way to new lows, while a return above 0.8020 will be the first signal of a possible upward correction.

Resistance levels are: 0.8020, 0.8080, 0.8130

Support levels are: 0.7980, 0.7825, 0.7715

The main scenario for the pair's advance suggests a breakout of the session low of 0.7980 (June 26 low) and a possible decline to 0.7825 (Sep 5’ 2011 low). 

An alternative scenario implies a breakout of the session high of 0.8020 and there may be an increase to 0.8080 (June 25 high)