Commentary: We have focused recently on the fact that the USDCHF is in a 5th wave (like the EURUSD) and that a turn was expected. The recent turn is either a correction in larger wave 4 within the 5 wave bear cycle from 1.2467 or is something more bullish.
Either way, price is expected to challenge former congestion at 1.1300 in the next few weeks (if not sooner).
Strategy: Flat