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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.

USD CHF Elliot Wave March 9

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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