A decline is possible.

On the daily chart, a descending wave at a higher level of 3 developed, where wave (1) of 3 formed, a correction ended as wave (2) of 3, and a descending wave (3) of 3 developed. Now, the lower wave 1 of (3) has formed, the correction has ended as wave 2 of (3), where wave c of 2 has ended, and wave 3 of (3) has started. If the forecast is correct, the USD/CHF currency pair will fall to the level of 0.8000–0.7700. In this scenario, the critical stop loss level is 0.8957.

Main scenario

Sell positions may become relevant below the 0.8957 level with targets at 0.8000–0.7700. Implementation period: 7 days or more.

Alternative scenario

A breakout and confirmation of the price above the 0.8957 level will allow the asset to rise to the 0.9231–0.9451 level.