The pair traded within a renewed daily downswing and begins Wednesday close to the lower side of the current structure. USD/CHF lost the 0.7840–0.7850 area and has returned to 0.7800, which places the market back near the lower support band built after the late-April selloff. The decline has been progressive rather than chaotic, suggesting that sellers are still active and that upside attempts may remain corrective until the pair reclaims higher balance levels.
For the full day, the key question is whether the market can defend the current support zone and build a recovery above the pivot. If it cannot, the broader bearish structure remains in force and another push lower becomes possible. A rebound is possible from these depressed levels, but buyers need a proper reclaim of the pivot area to change the tone of the session. Until then, the daily picture remains cautious and slightly negative.
Current price: 0.78004
Pivot: 0.78110
Nearest support levels: S1: 0.77900, S2: 0.77740, S3: 0.77520
Nearest resistance levels: R1: 0.78240, R2: 0.78460, R3: 0.78720
Note:
Above Pivot: If the pair rises back above 0.78110 and stabilizes there, buyers may attempt a broader rebound toward 0.78240 and 0.78460. If recovery momentum strengthens through the day, the next upside target may come at 0.78720.
Below Pivot: If the pair remains below 0.78110, sellers may keep pressure on the market toward 0.77900 and 0.77740. A deeper daily decline would then expose 0.77520.
