FX.co ★ Wave analysis of USD/CHF for July 23, 2010

It seems that USD/CHF is forming more complicated in its inner structure the 5th wave of the downward trend from July 7. If it is so, presently we see a decline of quotations within of the 3rd wave in the 5th. At the same time, as we have noted before, this 5th wave can take a wedge-shaped form and finish around 1.0280 level. Also, the showing up MACD divergence attracts attention signaling about the market reversal in favor of the greenback, at least, for mid-term outlook.