"USDCHF Breakout from Descending Channel – Key Levels to Watch"USD/CHFOANDA:USDCHFProfitMagnet-ProUSDCHF has been moving within a well-defined descending channel on the 4H timeframe since early May, forming a series of lower highs and lower lows. This pattern generally reflects a controlled downtrend where sellers remain in charge but within a structured range. In the most recent price action, the pair has broken above the upper channel boundary, suggesting that bearish momentum may be weakening. The breakout occurred after a period of consolidation near the 0.8000 psychological level, which now acts as a major support zone. Current Technical Picture: Trend Structure: Long-term downtrend showing early signs of reversal Support Levels: 0.8040 (breakout retest), 0.8000 (psychological support), 0.7950 (mid-range support) Resistance Levels: 0.8200 (near-term barrier), 0.8300 (retracement zone and key supply area) Potential Scenarios: 1. Bullish Continuation: If price holds above 0.8040 and pushes beyond 0.8200, momentum could target the 0.8300 zone, which aligns with prior supply and a Fibonacci retracement cluster. Sustained strength beyond that level might indicate a deeper trend reversal. 2. Bearish Rejection: Failure to maintain the breakout and a drop back under 0.8040 could trigger a retest of 0.8000, with deeper downside potential toward 0.7950 and possibly 0.7800 if selling pressure intensifies. From a volume perspective, recent breakout candles have shown moderate participation — something to watch closely in upcoming sessions. Traders will likely monitor whether this move evolves into a genuine reversal or simply a false breakout. 📊 This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and apply proper risk management