USDCHF is trading in a corrective wave b, which is unfolding a three-wave a)-b)-c) move with wave c in play. Wave c is a motive wave, which means it must unfold five legs, before we may label it as completed. At the moment we see sub-wave iii of c) unfolding, so more upside can still be expected on the pair, and resistance and a turning point can later be found around the Fibonacci ratio of 50.0 or 61.8.
All being said, a drop from the Fibonacci ratio in five waves would suggest a completed correction and further weakness.
