FX.co ★ USD/CHF wave analysis for May 17, 2011

In general, as expected, the USD/CHF currency pair could not resume the growth of the price that had declined by 1.5 figures from Friday’s highs during yesterday trading. At the same time, given the testing of the 88 figure level we might suppose that such decline is developing in relation with the uptrend section formed May 4-11. If so, there is a possibility that the pair would initiate a continuous horizontal correction.