The pair traded within a bearish recovery structure and enters the new month after a sharp breakdown followed by a limited rebound. USD/CHF remains under broader pressure after the heavy selloff from the 0.7910–0.7920 zone, and the latest bounce has so far only recovered a small part of that decline. This means the market is still trading inside a weak corrective phase rather than a confirmed reversal back higher.
For the full trading day, the 0.78280 area is the main pivot zone. If the pair can stabilize above it, buyers may extend the rebound further into the previous breakdown area. Still, any upside should be treated cautiously unless the market regains the higher resistance layers, because the broader tone remains fragile after the prior collapse. A move back below the pivot would put sellers in control again and reopen the downside structure for the rest of the session.
Current price: 0.78236
Pivot: 0.78280
Nearest support levels: S1: 0.78120, S2: 0.77980, S3: 0.77780
Nearest resistance levels: R1: 0.78380, R2: 0.78560, R3: 0.78800
Note:
Above Pivot: If the pair reclaims 0.78280 and holds above it, buyers may attempt a broader rebound toward 0.78380 and 0.78560. If recovery momentum expands through the day, the next upside objective may come at 0.78800.
Below Pivot: If the pair remains below 0.78280, sellers may regain pressure and push the market toward 0.78120 and 0.77980. A deeper daily decline would then expose 0.77780.
