There is no surprise as AUD/CHF has been moving in a tight congestion zone as we're still in consolidation. Based on Elliott Wave since mid-2012 we have been moving in a consistent bearish trend(see Figure 1) and now since we established the 0.7700 swing low, we're correcting this 5 wave cycle, We're still in the earlier stage of this correction as after 5 wave down we need an ABC correction to the upside and we only managed to put in place wave A so there is still more behind this movement, but…
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