FX.co ★ blaise.rogahn | USD/CHF

Hello traders! Last week, the currency pair USD/CHF moved in different directions, initially starting to rise from a low of 0.7810 on Monday, reaching up to touch the round level of 0.7900 by Thursday. However, bulls failed to update the previous high, and by the end of Friday's trading, the USD/CHF pair was already showing a drop of a whole figure with a test of the round level of 0.7800 for a downside breakout. This picture sets the stage for a technical reversal of the pair within the four-hour chart back in a southern direction. Therefore, if in the coming days the price, during a new wave of growth, does not significantly exceed the resistance of 0.7870, which is unlikely and the pair's high will not be surpassed, then we will expect a new wave of decline towards the support of 0.7780 from there. However, let's first wait for the first part of the scenario to play out, as indicated in my screenshot, and then we will consider further actions.