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 visible, while the correction has completed as wave B of (4), and wave C of (4) is currently forming, including the third junior level iii of C. If this scenario proves correct, the USD/CHF pair’s upward trend is expected to continue toward the 0.8044–0.8220 zone, with a critical stop-loss level at 0.7793.

The USD/CHF pair is trading in a corrective trend at 0.7864, slightly retreating from the February lows around 0.7700.

During the morning session, the USD/CHF pair is recovering after the “bearish” end of last week and trading at 0.7830, above all major moving averages, while investors focus on the upcoming macroeconomic data block from Switzerland and the US-Iran peace talks.

This week, the USD/CHF pair rose to the area of 0.7900 to the upper border of the downwards channel, which it failed to overcome and returned to the middle line of Bollinger bands 0.7830 under pressure from reports on the coordination of the US-Iranian truce for 60 days, during which the parties must begin discussing the nuclear program of the Islamic Republic.

Amid the strengthening of the American dollar, the USD/CHF pair is growing near 0.7863 after a reversal from the support level of 0.7775.