During the morning session, the USD/CHF pair is consolidating at 0.7852 near the highs of April 30, as previous growth drivers are neutralized, and the ongoing geopolitical tension in the Middle East does not provide noticeable support to the price without a clear escalation of the situation.

During the Asian session, the USD/CHF pair is trading in a corrective phase around 0.7850. The Swiss franc remains broadly stable despite the instrument having retreated from February lows near 0.7700. However, analysts still do not see prospects for a stronger acceleration in Swiss franc appreciation, implying that the likelihood of intervention by the Swiss National Bank remains on the table.

The probability of growth remains.

On the daily chart, the descending third wave of the higher degree (3) of 5 has been completed, and an upward correction is currently developing as the fourth wave (4) of 5. On the four-hour time frame, wave A of (4) is observed, the corrective phase has completed as wave B of (4), and wave C of (4) is forming. If this scenario proves correct, the USD/CHF pair’s upward trend is expected to continue toward the 0.8220–0.8410 zone, with a critical stop loss level at 0.7755.

The USD/CHF pair is forming a downward trend. Last Friday, the price reached three-month lows around 0.7760. Today, they recovered some of the lost positions, trading at 0.7790 amid the strengthening of the American dollar following new comments from US President Donald Trump and the publication of April labor market data.