USD/CHF remains likely to fall. Estimated pivot point is at a level of 0.9804.
Main scenario: Consider short positions from corrections below the level of 0.9804 with a target of 0.9167 – 0.9000.
Alternative scenario: Breakout and consolidation above the level of 0.9804 will allow the pair to continue rising to the levels of 1.0024 – 1.0235.
Analysis: Supposedly the descending third wave of larger degree (3) continues developing on the daily time frame, with wave 3 of (3) forming inside. On the H4 time frame, the first wave of smaller degree i of 3 formed and a correction finished developing in the form of wave ii of 3. Apparently the third wave iii of 3 is developing on the H1 time frame, with wave (ii) of iii completed and wave (iii) of iii starting to form inside. If the presumption is correct, the pair will continue to drop to the levels of 0.9167 – 0.9000. The level of 0.9804 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.0024 – 1.0235.