FX.co ★ USD/CHF wave analysis for July 15, 2011

Yesterday’s move of the USD/CHF from the 0.8080 level was probably limited by the forming 4th wave, in the 5th. At the same time, the growth can develop in the direction of estimated target levels located near 0.8200-0.8240. If so, it is possible that after testing the above mentioned levels the pair will resume downside movement to the lows reached earlier and further to 0.8050-0.7950.