The Swiss franc hit a new low in this week, but is now again reversing from it, which could be the start of some larger and more important turning point. Notice that we are tracking a corrective decline from 0.9750, which is actually part of a much bigger contra-trend move on a daily chart where we are tracking a triangle within the larger uptrend. As such, we are ready on a bullish move in the USD/CHF, but would have to see further strength from here and through the upper falling channel line, as well as 0.9394 level to make sure that lows are in. The reading on the RSI is also interesting, where prices reversed from its own trend-line and suggests higher reading as we move forward.
USDCHF 4h Chart- Elliott Wave Analysis
USDCHF Daily Chart- Elliott Wave Analysis