Short

USDCHF - 5 waves complete

USDCHF - Intraday - We look to Sell at 0.9886 (stop at 0.9916)

Continued downward momentum from 0.9851 resulted in the pair posting net daily losses yesterday. Selling posted in Asia. Intraday, and we are between bespoke support and resistance 0.9854-0.9886. The selloff is close to an exhaustion count on the intraday chart. The medium term bias is neutral. A 5 wave bullish count has been completed at 0.9950. Immediate signals are hard to interpret. Preferred trade is to sell into rallies.

Our profit targets will be 0.9823 and 0.9791

Resistance: 0.9886 / 0.9950 / 1.0000
Support: 0.9852 / 0.9821 / 0.9791

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