FX.co ★ USD/CHF wave analysis for May 24, 2011

During yesterday’s trading the USD/CHF could not develop the Friday’s downside movement and resumed growth against the US dollar along with several other currencies. At the same time, at some stretch we can consider all this downside movement of the price since May 13 as a correction structure of the estimated b wave which might be included in a more complicated correction triangle. If so, the pair still can continue growing in the direction of the 89 figure levels.