The price is in a correction and a fall is possible.

On the daily chart, the downward third wave of the higher level 3 develops, within which the wave (1) of 3 formed, and an upward correction ends as the wave (2) of 3. Now, the wave C of (2) is ending, within which the fifth wave of the lower level v of c of (2) is forming. If the assumption is correct, the USD/CHF pair will fall to the area of 0.8323–0.8000. In this scenario, critical stop loss level is 0.9350.

On the four-hour chart, the price is leaving a long-term accumulation zone upwards, and also at the support level of 0.9091, it is necessary to note the construction of the Hammer, Inverted Hammer, and the Three Advancing White Soldiers patterns, which demonstrate a steady overcoming of the upper border of the consolidation zone in the area of 0.9151. 

The USD/CHF pair is trading around the 0.9126 level, preparing to test the resistance level of 0.9142 as a result of the weakening of the franc against poor economic statistics.

The USD/CHF pair remains at 0.9109, and one of the reasons for such weak dynamics is macroeconomic statistics, which do not justify analysts’ forecasts.

During the Asian session, the USD/CHF pair shows ambiguous trading dynamics, remaining close to 0.9140. Market activity is reduced before the key American macroeconomic statistics release at 14:30 (GMT+2).

On the D1 chart, the USD/CHF pair is growing within the medium-term uptrend: last week, quotes reached their highest values since October 2022 around 0.9145 (0.0% correction). If this level is broken out, the uptrend will continue with the target of 0.9215 (100.0% expansion), otherwise the decline in quotes will resume to 0.8965 (23.6% correction) and 0.8860 (38.2% correction).