USD/CHF analysis (July 26)

After one week consolidation, the pair has finally broken through its hostorical low which. The market is now testing the 0,80 level.
The pressure remains on the downside and we expect additional decline going forward. Any bounce will be well capped by 0,83 (descending trendline and 20 moving average). We need to see a clear break above this level to start talking about a meaningful bounce.