USD/CHF analysis (July 25)

After a break below its daily range the pair has been consolidating last week despite the strong pressure on the US Dollar.
The pressure remains on the downside and a break below recent low at 0,8080 would confirm the bearish outlook.
Any bounce will be well capped by 0,83 (descending trendline and 20 moving average). We need to see a clear clear above this level to reconsider the outlook.