FX.co ★ USD/CHF wave analysis for May 23, 2011

Despite differently directed Friday’s trading, the USD/CHF currency pair managed to end forming the estimated b wave of the current correction structure and observe the 50,0% correction target level after a reverse. At the same time, the decline to 0.8750 at the moment looks like the beginning of the с wave of this correction. If so, the indicated downside movement can develop in the direction of the next possible target located near the 87 figure level.