[B]Commentary[/B]: As we have focused on, "look for a period of consolidation/correction to play out in 3 waves. Our count on the daily has price declining below 1.1877 before any meaningful rally attempt takes place.
The USDCHF is bearish below 1.2232 although price is unlikely to come near here." The 3 wave correction is still unfolding and price is likely to push through 1.2068 before the next leg down begins. Resistance is at the 38.2% of 1.2232-1.1992 at1.2084. [B]Strategy[/B]: Remain bearish, against 1.2232, target TBD