USD/CHF Elliott Wave Analysis: W-X-Y Correction Complete Near 0.8127 — Wave (iii) Targets 0.8335
USD/CHF has finished a complex correction and begun a new advance.
Where Is USD/CHF Right Now?
Wave ③: completed at the (v) high near 0.83823
Correction (W-X-Y): (w) near 0.8191, (x) near 0.83132, and (y) near 0.81273, at the 0.382 Fibonacci zone
New impulse: Wave (i) complete, (ii) pullback near 0.8174, and Wave (iii) active at 0.82579
The chart maps the 1.618 Fibonacci at 0.83348 as the target.
Key Levels
0.83823: Wave ③ high
0.83348: 1.618 Fib target
0.83132: (x) high
0.82579: current price
0.81740: (ii) low
0.81273: invalidation
Strategic Perspective
0.83132 is the first major hurdle on the way to the target.
A close below 0.81740 weakens the count; below 0.81273 invalidates it.
DXY, SNB policy and risk sentiment are the main external variables.
Conclusion
USD/CHF’s correction appears complete with Wave (iii) targeting 0.8335. At EWPlans, we update H4 and D1 wave counts on 39 instruments every day.