USDCHF ended wave (4) pullback at 0.954, and pair has now turned higher in wave (5). Pair still needs to break above the previous wave (3) high on 5/16/2022 high at 1.0064 to confirm the next leg higher has started. Internal subdivision of wave (5) is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave (4), wave (i) ended at 0.958 and pullback in wave (ii) ended at 0.954. Pair then extends higher in wave (iii) towards 0.962 and pullback in wave (iv) ended at 0.956. Final leg higher wave (v) ended at 0.9659 which completed wave ((i)).
Pullback in wave ((ii)) ended at 0.955 with internal subdivision as a double three. Pair then resumes higher in wave ((iii)) with 5 waves subdivision. Up from wave ((ii)), wave (i) ended at 0.964 and dips in wave (ii) ended at 0.96. Pair then resumed higher in wave (iii) towards 0.978, wave (iv) dips ended at 0.9711, and wave (v) of ((iii)) ended at 0.98. Pair then did a pullback in wave ((iv)) which ended at 0.9719. Near term, pair can see a few more upside before ending wave ((v)) and wave 1 in higher degree. Afterwards, it should pullback in wave 2 to correct cycle from 5/27/2022 low before it resumes higher. Near term, as far as pivot at 0.954 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
