Swiss Franc In Correction

[B]Commentary[/B]: The USDCHF reversed last week just before the 100% of 1.1993-1.2329/1.2145 at 1.2481. We wrote last week that "since the USDCHF has stalled just below the 100% extension (1.2481), be wary of a pullback towards. A small c wave is expected to bring price back to the former 4th wave at 1.2372.

This is a good point to either add to longs or initiate longs." The USDCHF may have more downside potential than initially thought. Additional support is at 1.2350 and 1.2311 (38.2%-50% of 1.2145-1.2476). [B]Strategy[/B]: Move to flat (previously bullish)