USD/CHF consolidated after reaching a perfect test of the 0.9750 area. The pair’s ripping comeback suggests even higher potential may be in the cards if current themes continue.
USD/CHF showing all the signs of “third wave” behaviour after it ripped through the 0.9500+ resistance on the way up. It consolidated rather sharply after a perfect go at the 100% Fibo extension target at 0.9750. The next extension targets are 100.85 for the 161.8% and the 106.35 for a really wild third wave of 261.8%. The more aggressive targets would also likely require a EURCHF break-out higher through 1.2500/50. The major support is 0.9500.
USD/CHF" title="USD/CHF" width="455" height="343" />
USD/CHF showing all the signs of “third wave” behaviour after it ripped through the 0.9500+ resistance on the way up. It consolidated rather sharply after a perfect go at the 100% Fibo extension target at 0.9750. The next extension targets are 100.85 for the 161.8% and the 106.35 for a really wild third wave of 261.8%. The more aggressive targets would also likely require a EURCHF break-out higher through 1.2500/50. The major support is 0.9500.
USD/CHF" title="USD/CHF" width="455" height="343" />