The pair USD/CHF is still likely to fall. Estimated pivot point is at a level of 0.9777.
Alternative scenario: Breakdown and consolidation above the level of 0.9777 will allow the pair to continue the rise up to the levels of 0.9847 – 0.9863.
Analysis: Supposedly, an ascending impetus finished forming as the first wave of senior level 1 of (3) within the daily time frame. A downward correction is forming as the wave 2 of (3) on the 4-hour timeframe. Apparently, a downward impetus is developing as the wave c of 2 with the wave (iii) of c nearing completion within on the 1-hour timeframe. If the presumption is correct, the pair will continue to drop to the levels 0.9640 – 0.9600 after the correction (iv) of c is completed. The level 0.9777 is critical in this scenario.
Price chart of USDCHF in real time mode
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