Commentary: The USDCHF is in a 5th wave (like the EURUSD) and the recent rally may have been wave iv of 5. As such, one more low is expected before a more meaningful turn.
Keep in mind though that recent COT data argues for a turn towards CHF weakness (USDCHF strength). A rally through 1.1176 would argue that a low is already in place.
Strategy: Flat