The pair traded within a range before forming a sharp bearish impulse from the 0.7890 area and falling into the lower part of the H1 structure. USD/CHF has recovered from the recent low, but the pair remains under pressure while it trades below the Pivot and below the broken support zone.
Current price: 0.78286
Pivot: 0.7832
Nearest support levels:
S1: 0.7815
S2: 0.7795
S3: 0.7775
Nearest resistance levels:
R1: 0.7848
R2: 0.7868
R3: 0.7890
Note:
Above Pivot: a recovery above 0.7832 may reduce bearish pressure and open the way toward 0.7848. A stronger rebound above 0.7848 may extend the correction toward 0.7868 and 0.7890.
Below Pivot: while the pair remains below 0.7832, sellers may keep control. A decline below 0.7815 may renew downside momentum and expose 0.7795 and 0.7775 during the day.
