The USDCNH currency can build a double zigzag w-x-y of the cycle degree. On the current chat, we see that the intervening wave x has been completed, which has the form of a double zigzag of the primary degree.
It is assumed that the initial part of the actionary wave Y is being constructed on the last section of the chart. Perhaps it will take the form of a standard zigzag.
Now the first wave is being formed, most likely, it takes the form of a leading diagonal.
The price in the last intermediate wave (5) may rise to 7.077. At that level, wave (5) will be at 123.6% of impulse (3). Let’s consider an option in which the construction of the cycle intervening wave x will continue. It may take the form of a triple zigzag.
In this case, the primary intervening wave, which has the form of an intermediate triple zigzag (W)-(X)-(Y)-(X)-(Z), could end. At the time of writing, the price is in the actionary wave.
It is possible that will take the form of a standard zigzag, as shown in the chart. Its end is expected near 6.650. At that level, it will be at 76.4% of wave.
