The pair USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9818.
Main scenario: short positions should be considered from corrections below the level of 0.9818 with a target of 0.9550 – 0.9500.
Alternative scenario:breakout and consolidation above the level of 0.9818 will allow the pair to continue the rise up to the levels of 1.0022 – 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 the first wave of junior level i of 3 forming inside. Apparently, a local correction is nearing completion in the form of wave (iv) of i on the H1 time frame. If this assumption is correct, the pair will continue to fall to the levels 0.9550 – 0.9500 once the correction’s over. The level of 0.9818 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0022 – 1.0145.