[B]Commentary:[/B] We wrote yesterday that “it appears that an ending diagonal may be unfolding from 1.2068. A drop below 1.1984 would complete 5 waves down from 1.2232 and give scope to a correction back towards 1.2068.”
The USDCHF dropped to 1.1973 this morning and has reversed. Look for resistance at 1.2068. The form of the rally from 1.1973 will determine our course of action.