Estimated pivot point is at the level of 0.9960.  
 
Our opinion: Buy the pair from correction above the level of 0.9960 with the target of 1.0200 - 1.0320.
 
Alternative scenario: Breakdown and consolidation of the price below the level of 0.9960 will trigger further decline in the pair to 0.9850.
 
Analysis: Presumably, the formation of the downward correction, as the wave 2, which has taken a shape of a zigzag with a diagonal line in the wave c of 2, has completed. Locally, it is likely that the fifth wave (v) of c is being developed. If this assumption is correct, the pair may resume the rise up to 1.0200 - 1.0320. Critical level for this scenario is 0.9960.

USD/CHF H1

USD/CHF H4




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