USD/CHF downtrend persists

The USD/CHF pair maintains a downward trend on the hourly chart, which is confirmed by the price's location below the MA (200) H1 moving average. After a short-term correction, the pair approached the resistance area near the 0.7995 level, but could not overcome it and returned to decline. The MACD indicator shows a weakening of the upward momentum and a possible transition to a new wave of sales. The nearest support level is located at 0.7920, its breakdown will open the way to the next target in the area of 0.7900. If the quotes recover and overcome the 0.7995 level, we can expect an attempt to rise to the 0.8020 zone, but the overall technical pressure remains bearish, and the priority remains on the sellers' side.

Resistance levels are: 0.7990, 0.8020, 0.8080

Support levels are:  0.7920, 0.7900, 0.7870

The main scenario for the pair's advance suggests a breakout of the support 0.7920 (July 4 low) and a possible decline to 0.7900 (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)