Commentary: We were not confident in the bear side yesterday but did write that as long as price is below 1.1922, a cautious bearish bias is warranted against 1.1922, targeting a drop under 1.1801.
The USDCHF is testing the 1.1800 figure yet again this morning. However, the decline from 1.1922 may be in its 5th wave. A drop below 1.1793 would potentially complete 5 waves from 1.1922 and give way to either a corrective rally or an outright reversal. Remember that the larger pattern has the USDCHF thrusting lower from a triangle and thrusts from triangles are terminal. Strategy: Flat