Swiss Franc Remains Below (USDCHF above) 9200
60 Minute Bars
Prepared by Jamie Saettele
Near term expectations are for the USDCHF to extend a bit lower in order to complete 5 waves down from 9775. The drop below 9233 probably composes wave 3 of the 5 wave decline and the bounce into the former 4th wave is small wave 4. A drop to a new low would complete the pattern and give scope to a reversal (watch the USDCHF for EURUSD timing). Watch round figures for support (9100, 9000, etc). Trading above 9330 would suggest that a low is in place.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.