A fall is possible.

On the daily chart, the downward third wave of the higher level 3 develops, within which the wave (1) of 3 formed, and upward correction ended as the wave (2) of 3, and the wave (3) of 3 develops. Now, the first wave of the lower level 1 of (3) has formed, and a local correction has ended as the second wave 2 of (3). If the assumption is correct, the USD/CHF pair will fall within the wave 3 of (3) to the area of 0.8537–0.8323. In this scenario, critical stop loss level is 0.9238.

Main scenario

Short positions will become relevant below the level of 0.9238 with the targets at 0.8537–0.8323. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 0.9238 will let the asset grow to the area of 0.9437–0.9832.