The pair continues to be in an uptrend, correcting to a global decline at the end of last year. In the absence of macroeconomic statistics from Switzerland, the dynamics of USD came to the fore, the volatility of which significantly increased as a result of the market reaction to FOMC statistics and reports.

The pair may fall.

On the daily chart, the third wave of the higher level (3) develops, within which the wave 3 of (3) forms. Now, the development of a local correction as the second wave of the lower level ii of 3 is ending, within which the wave (c) of ii has almost formed. If the assumption is correct, after the end of the correction, the pair will fall to the levels of 0.9550–0.9500. In this scenario, critical stop loss level is 0.9868.

On the H4 chart, the uptrend is still in force; the instrument has corrected to the midline of Bollinger Bands, the price range is widened, which indicates a possible resumption of growth after correction. MACD histogram is in the positive area keeping a signal for the opening of long positions. Stochastic is located on the border of the neutral and oversold zones, the oscillator's lines are reversing up.

Today, during the Asian session, the USD/CHF pair is growing moderately, renewing local highs from December 24, 2019. USD is supported by the situation with the spread of coronavirus. There was some improvement in sentiment in the market but new statistics on deaths and infections have forced investors to return to safer assets and put up with negative data from the United States.