The pair traded within a renewed bearish structure and starts Thursday close to the lower part of the current range. USD/CHF fell sharply from the 0.7910–0.7920 zone and remains under pressure after repeated failures to build a sustainable rebound above 0.7840. The market is now stabilizing around 0.7788, but the overall tone for the whole day is still fragile because every recent recovery attempt has been followed by renewed selling.
For the full trading day, the key question is whether buyers can reclaim the pivot and turn the current base into a broader rebound. If they fail, the dominant structure remains bearish and the pair may continue to grind lower or retest the recent lows. A modest bounce is possible from such depressed levels, but it only becomes technically meaningful if price returns above the pivot and starts holding there. Until that happens, rallies may remain corrective rather than trend-changing.
Current price: 0.77882
Pivot: 0.77940
Nearest support levels: S1: 0.77760, S2: 0.77600, S3: 0.77380
Nearest resistance levels: R1: 0.78020, R2: 0.78240, R3: 0.78520
Note:
Above Pivot: If the pair rises above 0.77940 and stabilizes there, buyers may attempt a broader rebound toward 0.78020 and 0.78240. If recovery momentum strengthens during the day, the next upside target may come at 0.78520.
Below Pivot: If the pair remains below 0.77940, sellers may keep pressure on the market toward 0.77760 and 0.77600. A deeper daily decline would then expose 0.77380.
