The current USDCHF formation on the 4-hour timeframe hints to a double zigzag pattern consisting of primary waves Ⓦ-Ⓧ-Ⓨ.
The primary structure suggests that waves Ⓦ and Ⓧ are complete, whereas wave Ⓨ is under development and only on its way to completing the first correction.
The intermediate wave (W) requires the successful formation of minor wave C since minor waves A and B are complete.
Bulls have managed to form the first wave of minor wave C which makes the next coming trading days interesting as an upside validation could be expected to take prices near 0.9982 level.
The target would respect the tenancy of zigzag waves A and C being equal.
With bulls gaining strength the ascent of the market could be more rapid that often seen.