The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9778.
Main scenario: short positions should be considered from corrections below the level of 0.9778 with a target of 0.9612 – 0.9500.
Alternative scenario: breakout and consolidation above the level of 0.9778 will allow the pair to continue the rise up to the levels of 0.9849 – 1.0145.
Analysis: On the daily time frame, supposedly, an ascending correction of senior level has finished developing in the form of wave (2) and wave (3) has started forming. The third wave 3 of (3) is developing on the H4 time frame, with a correction completed in the form of wave ii of 3 and wave iii of 3 developing now inside. Apparently, the first counter-trend wave of junior level (i) of iii of 3 is developing on the H1 time frame. If this assumption is correct, the pair will continue to fall to 0.9612 – 0.9500. The level of 0.9778 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 0.9849 – 1.0145.