Primary USD-CHF Elliott Wave Analysis
The USD-CHF found powerful support in the past 2 weeks. This rebound has been the largest yet based more on CHF weakness than USD strength. Swiss Franc weakness comes from threats of looser monetary policy and pegging the Franc to the Euro. This bullish rebound can be counted as 5-waves and therefore the start of a larger reversal. Risk is now more to the upside than downside. This short term correction down will still be well worth trading and will most likely not find support until 0.7650 – 0.7550.