USDCHF Turns Bullish, Since SNB Cut Rates

USD/CHF has been on the rise, bouncing back from the low of 0.8825 following the recent rate cut by the Swiss National Bank. A clear 5-wave increase from the June low indicates a shift in trend from bearish to bullish. It is important to note that market movements are not always linear, so there may be a 3-wave pullback before the uptrend continues. The key level to watch is around 0.90, which serves as both a psychological barrier and a swing resistance from June 11th. As long as the price remains above the June low, I will be looking for further upside on USD/CHF. Support on any dips is expected at 0.89.