FX.co ★ USD/CHF wave analysis for August 11, 2011

During yesterday’s trading the USD/CHF continued recent slow rollback from the 0.7085 level. Therefore we might suppose that the price is forming inner wave structure of the 5th wave (in the 5th), in this case – the 4th wave in the 3rd, in the 5th. If so, the targets for this 5th wave are located in a quite wide price range and might be found between 0.7060 and 0.6950 or even 0.6850.