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USD/CHF: Downside Can Be Limited

USD/CHF: Downside Can Be Limited

USD/CHF is back at the lows so obviously bears are still here but not far away from completion as we see red wave C) in final stages. This wave C) is part of a second zigzag that is now trading close to 100% Fibonacci level compared to wave A) which is very important level when it comes to reversals. That said, traders need to be aware of a bounce in days ahead, ideally with impulsive price back to 0.9790 that would put low in play of a big wave IV. Divergence on the RSI also indicates on a bounce in price.

USD/CHF, 4H

USD/CHF 4 Hour Chart

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