The USDCHF pair seems to be forming a triple zigzag Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. Its final part, wave Ⓩ, is under development.
It is assumed that the wave Ⓩ can end in the form of a standard intermediate zigzag (A)-(B)-(C). Wave (A) is a 5-wave bearish impulse, wave (B) has a horizontal internal structure of a double three W-X-Y.
Thus, the formation of the final intermediate wave (C) can be expected in the near future. It is possible that it will be at 76.4% of impulse (A), and will end near 0.871.
Alternatively, the development of correction (B) may continue. Its structure is similar to the double three W-X-Y.
At the moment, two parts have been completed in it – the minor sub-waves W and X. Both of these sub-waves are similar to double zigzags of the minute degree ⓦ-ⓧ-ⓨ.
To confirm this scenario, the last minor wave Y is needed, it can also be a minute double zigzag.
It is likely that the bulls will send the market to the level of 0.960, which is on the resistance line.
