[B]Commentary:[/B] We were looking for a top and reversal close to the 61.8% of 1.2165-1.1815 at 1.2032 but the USDCHF pushed through to test the 78.6% at 1.2090. We wrote yesterday of a thrust from a triangle, which is why we remain bearish (thrusts from triangles are usually terminal and eventually reverse).
As mentioned last week, the larger bearish pattern is intact as long as price is below 1.2165. [B]Strategy:[/B] Remain Bearish against 1.2165, target 1.1400