Commentary: The count that calls for a new low (below 1.1815) continues to track well as the USDCHF traded as low as 1.1817 this morning. Continue to favor the downside and a break of 1.1815.
A bearish objective is at 1.1793 (161.8% extension of 1.2215-1.1993/1.2151). Still, this decline from 1.1898 is wave 5 in the 5 wave decline from 1.2151 so risk of an upward correction back to 1.1900 or so increases with every tick lower. Strategy: Remain bearish, move risk to 1.1879, target 1.1795