The USD/CHF pair is showing weak growth, correcting after the appearance of "bearish" dynamics the day before and retreating from the local lows of May 6. The instrument is testing 0.9065 for a breakout, while trading participants expect new drivers to appear on the market.

The USD/CHF pair is trading within a long-term uptrend: last week, the quotes adjusted to the level of 0.9033 (38.2% Fibonacci retracement, Murrey level [4/8]), but now the growth has resumed.

A fall is possible.

On the daily chart, the downward third wave of the higher level 3 develops, within which the wave (1) of 3 formed, and an upward correction ended as the wave (2) of 3. Now, the downward wave (3) of 3 has started. If the assumption is correct, the USD/CHF pair will fall to the area of 0.8323–0.8000. In this scenario, critical stop loss level is 0.9220.

The USD/CHF pair fell to the area of 0.9069 after the publication of Swiss macroeconomic statistics.

On the four-hour chart, the price is leaving a long-term accumulation zone upwards, and also at the support level of 0.9091, it is necessary to note the construction of the Hammer, Inverted Hammer, and the Three Advancing White Soldiers patterns, which demonstrate a steady overcoming of the upper border of the consolidation zone in the area of 0.9151. 

The USD/CHF pair remains at 0.9109, and one of the reasons for such weak dynamics is macroeconomic statistics, which do not justify analysts’ forecasts.