During the morning session, the USD/CHF pair is developing an ultra-short-term upward trend, renewing the highs of July 14 against escalating geopolitical tensions in the Persian Gulf region.

This week, the USD/CHF pair resumed growth and is currently trading around 0.8100 as the US currency receives support from the strengthening “hawkish” sentiments of the US Fed.

Against the strengthening American dollar, the USD/CHF pair is trading in a corrective trend at the level of 0.8091.

The probability of growth remains.

On the daily chart, the downward third wave of a higher degree (3) of 5 has completed, after which the formation of a correction began as the fourth wave (4) of 5, within which the third wave C of (4) is developing. Currently, the third wave of a smaller degree iii of C and the fifth wave (v) of iii are forming. If this assumption is correct, the USD/CHF pair will continue to grow toward the levels of 0.8220–0.8400. The critical stop loss level for this scenario is 0.8028.