FX.co ★ USD/CHF wave analysis for July 27, 2011

The uncertainty about the future outcome of current debates on the increase of the US national debt is keeping the franc in demand as a safe haven asset. In the meantime, with a slow downfall the USD/CHF pair continued to form a complex wave structure of the estimated 3rd wave in the 3rd (in the 5th), which allowed it to test the 89 figure level. At the same time, despite the complex wave situation, we can expect soon beginning of the upside correction structure development in the range of the future 4th wave.