Commentary: The USDCHF is headed below 1.1623 to complete the larger decline (which is a terminal thrust from a triangle). A drop below 1.1623 would possibly complete 5 waves down from 1.2468 and give way to a reversal and much larger rally.
Near term, a small 4th wave may be complete at 1.1724. The short term bearish structure is strong as long as price is below 1.1785.
Strategy: Flat