Ascending trend for the USD/CHF price continues. Estimated pivot point is at a level of 0.9945.
Main scenario: long positions will be relevant from corrections above the level of 0.9945 with a target of 1.0100 – 1.0190.
Alternative scenario: breakout and USD/CHF price consolidation below the level of 0.9852 will make USD/CHF rate continue declining towards the range of 0.9819 – 0.9745.
Analysis: Supposedly, an ascending momentum continues to form as the first wave of senior level 1 of (3) in the daily USD/CHF price chart. The fifth wave v of 1 is developing in the 4-hour timeframe. Apparently, the third wave of junior level (iii) of v continues forming in the 1H timeframe, with an emerging ascending momentum inside. If the presumption is correct, the USD/CHF rate will continue rising to levels 1.0100 – 1.0190. The level 0.9945 is critical in this scenario.
Price chart of USDCHF in real time mode
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