USD/CHF Rally May Reach New Heights by End of Month

The USD/CHF currency pair is expected to continue rising, according to an Elliott Wave analysis. The main scenario suggests that long positions should be considered from corrections above $0.8182, with a target of $0.8400-$0.8588.

The level of $0.8182 is critical in this scenario, and a breakout below it could allow the pair to continue falling to the levels of $0.7950-$0.7755.

This forecast is based on the Elliott Wave Theory, which suggests that the third wave 3 of (5) has formed on the daily chart, and an ascending correction continues developing as the fourth wave 4 of (5).