The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 0.9694.
Main scenario: short positions will be relevant from corrections below the level of 0.9694 with a target of 0.9524.
Alternative scenario: breakout and consolidation above the level of 0.9694 will allow the pair to continue the rise up to the levels of 0.9762 – 0.9864.
Analysis: Supposedly, an ascending impetus finished forming as the first wave of senior level 1 of (3) on the daily time frame. A downward correction is developing on H4 time frame in the form of the wave 2 of (3), with the wave a of 2 forming inside. Apparently, the fifth wave of junior level (v) of c continues forming now on the 1-hour time frame, with the wave iii of (v) nearing completion inside. If the presumption is correct, the pair will continue to fall to the level of 0.9525 once the correction iv of (v) has been completed. The level 0.9694 is critical in this scenario.
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Price chart of USDCHF in real time mode
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