USD/CHF tests MA (200) H1

Today, the hourly chart of the USD/CHF currency pair shows price consolidation in the range between the support levels of 0.8780 and resistance levels of 0.8850. The MA (200) H1 moving average line with a long period indicates a downtrend, as the price is below this line in most cases. The MACD indicator shows a weakening of the bearish momentum, which may indicate a possible reversal or a short-term upward pullback. Key resistance levels are located at 0.8820 and 0.8850, their breakdown may lead to a price increase to the level of 0.8865. In case of a rebound from the current values, it is possible to retest the 0.8780 support, and if it breaks, the price may continue to decline to 0.8750. The overall picture remains bearish for now, but a potential upward rebound is not ruled out.

Resistance levels are:  0.8820, 0.8850-65, 0.8925

Support levels are: 0.8780, 0.8750, 0.8735

The main scenario for the pair's advance suggests a decline to the session low of 0.8780 and then, perhaps, to 0.8750 (March 18 low) 

An alternative scenario implies a breakout of the session high and MA (200) H1 (0.8820) and there may be an increase to the area of 0.8850-65 (March 14 and 25-26 highs)