Strong reversal since start of May from 0.9442 is very sharp and fast without any overlaps, so we see market making an impulsive run. Impulses are five wave patterns that move in the direction of a bigger trend, so we assume that new bullish cycle is now coming in play based on higher time frames, especially if we consider an ending diagonal finished in wave C of IV. As such, rise from last week on 4h chart is likely wave 3) as part of a recovery that should stay in play as long as 0.9764 is not breached.
USDCHF, 4H
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