Usd/Chf moved lower in recent hours, actually since the Consumer Price Index numbers came out +0.4% as Swiss Statistics reported. The pair lost almost 100 pips from recent 0.9370 highs.
In fact, this move lower appears to be only a start of an impulsive decline headed towards the previous lows.
Guest post by Gregor Horvat
You will notice that previous upward structure was made in three legs, and in Elliott wave Theory only corrective waves are structured by three sub-waves, labelled as an (a)-(b)-(c) on our chart.
We know that correction occurs against the larger trend and as such pair should hit levels around 0.9150 in coming sessions.
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