Monday, January 27, 2014
USD/CHF - Look for a break above 0.8991 to comfirm the next rally higher.
The correction from 0.9127 turned into an expanded flat correction. We have likely just seen the low of wave c ii at 0.8900 (close to the 70.7% corrective target of wave i) and we should be looking for a break above resistance at 0.8991 as the first indication, that wave iii higher towards 0.9436 is developing. However, to confirm that wave ii is over a break above 0.9081 is needed.
Important support is at 0.8798 the start of wave i.