Wave analysis of the USD/CHF currency pair for January 22, 2010

Having reached the new local low during the first part of the trades, the pair USD/CHF tried to correct. At the same time, the internel wave construction of expected 5th wave looks uncompleted. So we can assume, that after finishing of the correctional pullback, the price may continue the motion to the mentioned yesterday calculated target level of 1.0530.Moreover, the closeness to the levels of the local December\'s high can help the price to test the level of 1.0505.

Best regards,

Analysts: A. Dneprovskiy.