It has been some time since we have visited the USD/CHF cross. As can be seen on the chart above we are currently testing major long term support near 76.00. We can count a clear five wave decline from 183.00 down to 76.08 and finally wave C was 61.8% the length of wave A at 80.09 all facts that argue, that we could be close to some kind of bottom. We might not have seen the bottom yet and a possible bottoming process could take quite some time to form, but it would be wise to be on the outlook for evidence, that a bottom could be in place.Short term only a break above resistance at 82.77 would indicate, that a bottom is in place.
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