USD/CHF: Quick short play ?
USD/CHF seems to consolidate a little bit.
H4 shows an exhaustion with two bearish candlesticks. It seems prices want to touch their TS @ 1.00234. This level is a high support, since it’s an extension of previous SSB (check on the left of the chart). LS is also free of any obstacles (candles) as a support.
H1 shows that there was some fighting around TS but eventually the curve was broken by a red candlestick. This is an alert indicating that the bullish trend’s momentum is temporarily fading. KS is 1.00652 and will act as a support. Should this level break, prices will tend to move to the 1.00234 area as indicated.
This timeframe seems to indicate that the prices want to penetrate the KUMO. LS has already crossed its TS validating the short-term trend reversal. Should the prices enter the KUMO the next support is @1.00659 and 1.00585. Consider also LS which should cross its LS as a bearish validation.