USDCHF is recovering in a fifth wave, like EURUSD, however into the opposite direction. We are observing a five-wave rise in progress, with a possible top, and resistance for the fifth wave being seen near the Fibonacci ratio of 161.8/200.0 (0.992/0.995 region). Despite current firm rally, be aware that once a five-wave movement fully develops, that is when a contra-trend reaction may follow, an A-B-C towards the 0.9848 minimum target.
USDCHF, 1h
