USD/CHF remains firmly bullish as the US Dollar continues to strengthen against the Swiss Franc. According to the latest Elliott Wave analysis, the pair appears to be in the middle of a powerful third-wave rally, suggesting further upside potential in the coming weeks.

The pair has maintained strong momentum since rebounding from the May low near 0.7761, supported by a stronger US Dollar, favorable technical conditions, and continued buying pressure above major support levels.

Elliott Wave Analysis
The current market structure indicates that USD/CHF is developing a five-wave bullish sequence from the May 8 low.
Analysts identify the ongoing advance as part of a larger wave iii within a broader impulsive structure.

Historically, third waves are often the strongest and longest waves within an Elliott Wave cycle, making the current phase particularly important for trend-following traders.
The ongoing bullish leg could extend toward the upper boundary of the rising price channel, with the next major objective located near 0.8212.

Technical Outlook
USD/CHF continues to trade comfortably above its 200-day Simple Moving Average (SMA), reinforcing the bullish market structure.
As long as prices remain above this key technical level, buyers are expected to maintain control of the trend.
Momentum indicators continue to favor further gains, although traders should monitor the Relative Strength Index (RSI) for potential bearish divergence, which could signal slowing momentum near the top of the move.

Bullish Scenario
The primary outlook remains bullish while USD/CHF holds above the 200-day SMA.
🎯 Target 1: 0.8150
🎯 Target 2: 0.8212 (Wave iii Target)
🎯 Target 3: 0.8250
Following completion of wave iii, a temporary consolidation phase may develop before another bullish wave resumes higher.

Bearish Scenario
The bullish outlook would weaken if USD/CHF loses support around the 200-day SMA.
📉 Support 1: 0.8000
📉 Support 2: 0.7950
📉 Support 3: 0.7907 (200-Day SMA)
A sustained break below 0.7907 would force traders to reassess the current Elliott Wave structure and could signal the start of a deeper correction.

Market Outlook
USD/CHF remains one of the strongest major currency pairs, supported by bullish technical momentum and a favorable Elliott Wave structure.
As long as the pair remains above the 200-day SMA, the path of least resistance remains to the upside, with 0.8212 standing out as the next major target for buyers.
Traders should continue monitoring momentum indicators and price action around key resistance zones for signs of the next phase of the trend.

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