As expected, USDCHF is trading at new highs after breaking out of the previous fourth-wave consolidation, suggesting that the fifth wave within the higher-degree extension of red wave three is now in progress. Price is approaching potential resistance near current levels, with the key triangle target area around 0.82. A corrective setback should be expected sooner or later, but it could only be another wave four correction, with potential support near the previous wave four area around 0.8060 before the next move higher.
For a detailed view and more analysis like this, you can watch below our latest recording of a live webinar streamed on July 28:
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