Swiss Franc Towards Fibo Before Advance (USDCHF Decline) Continues

[B]Commentary[/B]: The 5 wave decline from 1.2476-1.2091 sports an extended 5th wave (from 1.2341). We are treating the rally from 1.2091 as a correction, which means that we expect new lows either today or next week. Fibonacci resistance is at 1.2238 (38.2% of 1.2476-1.2091), 1.2284 (50%) and 1.2329 (61.8%).

Look for a reversal of recent strength near one of these levels. [B]Strategy[/B]: Flat