[B]Commentary:[/B] We maintain that the USDCHF is forming a low. Similar to the EURUSD (but the inverse), the USDCHF rally from 1.1960 is an impulse (5 waves), indicating that the near term trend has turned to the upside.
Initial resistance is at 1.2068 (trendline resistance is at 1.2090 as well) but the 5 up? from 1.2960 indicates additional bullish potential. [B]Strategy:[/B] Remain bullish, against 1.1960, target TBD