USD/CHF downtrend persists

On the hourly chart, the USD/CHF pair continues to move in a downtrend, remaining below the MA (200) H1 moving average, which is directed downward and puts pressure on the price. After reaching a low in the area of 0.7870, there was an attempt to recover, but the growth was limited to the level of 0.7990, from which the price rolled back down again. At the moment, the pair is consolidating near the 0.7935 mark, which indicates that there is no clear momentum. The MACD indicator shows a weakening of the upward momentum — the histogram is decreasing and approaching the zero line, which may indicate a possible resumption of the decline. The overall technical picture maintains a bearish bias, while a breakdown below 0.79008 will increase pressure on the pair with the potential to test the 0.7870 level.

Resistance levels are: 0.7990, 0.8020, 0.8080

Support levels are:  0.7900, 0.7870, 0.7825

The main scenario for the pair's advance suggests a breakout of the support 0.7900 (July 3 low) and a possible decline to 0.7870 (July 3 low) 

An alternative scenario implies a breakout of the resistance 0.7990 (July 3 high) and there may be an increase to 0.8020 (June 27 high)