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Swiss CPI figures released earlier today came out above expectations, at 1.4%, leading to a reversal of some recent losses for the Swiss franc against other currencies. Observing the USD/CHF pair, we notice a significant intraday drop that appears to be an impulsive move down from a new high. Ideally, this trend could drive the pair even lower, possibly toward the 0.9 area where new support might be found. The reason is wave C of a potential ABC flat formation. So, despite current sell-off, we still believe that the higher degree trend will resume at some point, perhaps within the next week or so. Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here. By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
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