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FX.co ★ USD/CHF wave analysis for March 16, 2011

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Forex Analysis:::2011-03-16T10:36:33

USD/CHF wave analysis for March 16, 2011

USD/CHF wave analysis for March 16, 2011

During yesterday’s trading the USD/CHF currency pair continued the downside movement initiated on Friday, thus forming the 5th wave of the whole downward section initiated February 11. At the same time the estimated target level near the 91 figure level was observed, the price also refreshed the early all-time low. It should also be mentioned that given the high demand for sheltering currencies, it is quite difficult to predict targets for the swiss currency.

Analyst InstaForex
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