The pair USD/CHF is still likely to grow. Estimated pivot point is at a level of 0.9892.
Main scenario: long positions will be relevant from corrections above the level of 0.9892 with a target of 1.0147 – 1.0300.
Alternative scenario: breakout and consolidation below a level of 0.9892 will allow the pair to continue declining to a level of 0.9709 and further below.
Analysis: Supposedly, the third wave of senior level (3) continues to form on the daily time frame. The first wave of junior level i of 1 of (3) has been formed and a local correction finished developing in the form of wave ii of 1 of (3) on the H4 time frame. Apparently, the third wave iii of 1 of (3) starts developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 1.0147 – 1.0300 in the medium term. The level 0.9892 is critical in this scenario.