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, an upward correction ended as the wave (2) of 3, and the downward wave (3) of 3 started. Now, the first wave of the lower level 1 of (3) is developing, within which the wave iii of 1 has formed. If the assumption is correct, after the local correction iv of 1, the USD/CHF pair will fall to the area of 0.8323–0.8000. In this scenario, critical stop loss level is 0.9162.

Main scenario

Short positions will become relevant below the level of 0.9162 with the targets at 0.8323–0.8000. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 0.9162 will let the asset grow to the area of 0.9345–0.9534.