The pair traded within a range before the latest H1 session produced a sharp bearish reversal from the 0.7895 region. USD/CHF then broke lower and settled near the bottom of the new range, suggesting that the daily bias remains negative while the price stays below the Pivot resistance area.
Current price: 0.78348
Pivot: 0.7844
Nearest support levels:
S1: 0.7828
S2: 0.7815
S3: 0.7800
Nearest resistance levels:
R1: 0.7848
R2: 0.7862
R3: 0.7880
Note:
Above Pivot: if the pair manages to recover above 0.7844, the immediate pressure may ease and the market could retest 0.7848. A stronger rebound may then extend toward 0.7862 and 0.7880.
Below Pivot: while the pair remains below 0.7844, the bearish scenario stays dominant. A break below 0.7828 may lead to a continuation toward 0.7815 and 0.7800 during the day.
