The USDCHF is probably on its way to a new low.
The advance from .9647 is in 3 waves and therefore corrective. The drop from 1.0624 may be a series of 1st and 2nd waves. The pattern is not especially clear though, and we would rather pursue opportunities elsewhere. If the bearish bias is correct, then the USDCHF should remain below 1.0540 but a push through 1.0352 is possible.
