Stopping just shy of 1.11 this morning, the USDCHF count is similar to the GBPUSD count, but as the inverse.
That is, the decline from 1.1032-1.0842 is either wave 4 or wave w within a complex wave 4. The complex interpretation remains valid because the advance from 1.0842 is in just 3 waves to this point. Coming under 1.0842 would complete wave 4 before a new high. Still, risk is to the upside as long as price is above 1.0922.
