Alex Bobrov
⬤ USD/CHF showed fresh weakness after a brief corrective rally, with the pair stalling exactly where technical structure flagged resistance. The one-hour chart shows the rebound lost steam below the 0.8000 region, keeping the broader bearish trend locked in. This came after an extended decline and backed the view that the recent upside move was corrective rather than a trend shift.
⬤ The rally stalled right where the Elliott Wave sequence warned it would, with structure again guiding market moves. The chart highlights a clear bearish sequence, with the rebound playing out within a corrective framework. Price stays capped below the marked invalidation level near 0.7969, while the analysis specifically notes buying isn't recommended in the current zone, pointing to limited upside room.
⬤ From a technical angle, USD/CHF remains locked in a broader downtrend. The rebound looks to be part of a corrective W-X-Y structure, followed by renewed weakness. The chart projects potential continuation lower after current consolidation, with a highlighted downside target zone between roughly 0.7760 and 0.7837, pulled from Fibonacci extension levels. As long as price holds below the invalidation threshold, the Elliott Wave count keeps favoring more downside pressure.
⬤ This matters for the forex market since USD/CHF often reflects shifts in relative demand between the U.S. dollar and Swiss franc. Downtrend continuation would cement the prevailing bearish tone and confirm corrective rallies stay vulnerable to fresh selling. With structure clearly marking resistance, invalidation, and downside targets, focus stays on whether USD/CHF follows through toward the projected lower zone in upcoming sessions.
Alex Bobrov
