The pair traded within a bearish post-breakdown structure and begins the week after a heavy late-April selloff. USD/CHF collapsed from the 0.7900–0.7910 zone and then moved into a narrow stabilization phase around the lower part of the range. That rebound has been shallow so far, which means the market is still behaving more like a weak corrective bounce inside a broader bearish structure than a confirmed reversal. Sellers remain in the stronger position unless the pair can reclaim higher resistance levels.
For the full trading day, the 0.78120 zone is the main pivot. If the pair manages to rise and hold above it, a wider recovery toward the former breakdown area becomes possible. But while price stays below or only marginally around that zone, the broader tone remains fragile and vulnerable to renewed downside pressure. The day therefore starts with a cautious bearish bias, with upside treated as corrective unless the market proves otherwise by reclaiming resistance more decisively.
Current price: 0.78057
Pivot: 0.78120
Nearest support levels: S1: 0.78000, S2: 0.77840, S3: 0.77680
Nearest resistance levels: R1: 0.78260, R2: 0.78420, R3: 0.78640
Note:
Above Pivot: If the pair reclaims 0.78120 and stabilizes above it, buyers may attempt a wider rebound toward 0.78260 and 0.78420. If recovery momentum strengthens through the day, the next upside target may come at 0.78640.
Below Pivot: If the pair stays below 0.78120, sellers may keep control and pressure the market toward 0.78000 and 0.77840. A deeper daily decline would then expose 0.77680.
