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Swiss Franc Technical Outlook

Wednesday, 30 July 2008 15:33:39 GMT

Written by Jamie Saettele, Currency Analyst

There is also no change to the bullish USDCHF count. 

“Under the preferred count, the 3 wave rally from .9647 was wave W in a complex correction.  The choppy decline from above 1.06 serves as wave X and wave Y is underway now.  Expect the advance to reach 1.10 (former 4th wave and wave Y = wave W at 1.0986).”  Near term support is at 1.0440. 

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