The price is in correction and could grow.

On the daily chart, the downward third wave of the higher level (3) of 5 has completed, and a correction is forming as the fourth wave (4) of 5. At the moment, the third wave C of (4) and the fifth wave of the lower level v of C are forming. If the assumption is correct, the USD/CHF pair will grow to the area of 0.8218–0.8400. The critical stop loss level for this scenario is 0.8068.

The USD/CHF pair is moving within a long-term upward trend, forming a corresponding channel: in the middle of last month, the price corrected downwards to 0.7950 as the Ministry of Finance increased long-term bond buybacks from 2.0B dollars to 4.0B dollars.

Against a local strengthening of the American dollar, the USD/CHF pair is trading in a corrective trend at 0.8094, as the franc maintains stability against most world currencies.