The correction that we were looking for in the USDCHF (to test at least 1.05) appears to have ended at 1.0458. The pair has already registered a new low (below 1.0307) but the form of the decline tells us that there is additional downside potential. As long as price is below 1.0427, expect the USDCHF to test 1.0230 (1.618 extension).
