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USD/CHF: incomplete a-b-c within bullish channel

   
The USD/CHF pair is channelling higher. Recently it pulled-back down to the lower channel and then bounced. The outline of the move looks like an incomplete a-b-c corrective pattern, with the C leg lower yet to unfold. We are at the 50% Fibonacci retracement of the preceding move and therefore at a probable level where B will end and C could begin.

For confirmation of C moving down I would ideally wish to see a break below 0.9750, which would generate a target near the lower channel-line at 0.9710.
USDCHF13

   
The USD/CHF pair is channelling higher. Recently it pulled-back down to the lower channel and then bounced. The outline of the move looks like an incomplete a-b-c corrective pattern, with the C leg lower yet to unfold. We are at the 50% Fibonacci retracement of the preceding move and therefore at a probable level where B will end and C could begin.

For confirmation of C moving down I would ideally wish to see a break below 0.9750, which would generate a target near the lower channel-line at 0.9710.
USDCHF13



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