USD/CHF: What to expect next week ?

USD/CHF is in a a correction phase since mid-November. 

usdchf wThe weekly chart shows that prices this last week attempted to hold TS but were rejected. KS’s slope is horizontal indicating the momentum is slowing down. It is likely that prices will try to reach KS, at 0.97885. Lagging Span (LS) is also free of any support confirming this setup might be possible. Should this level not hold, the next support is @ 0.95976 which is the top of the cloud and the extension of KS.

Let’s check the daily to identify if there are some closer supports.

usdchf daiy
The Daily shows prices opened on KS but did not hold and eventually finessed the session with a nice bearish candle. The next support is 0.98990 then 0.98663, 0.98488. Should this level not hold, the next support is 0.97885 (weekly KS).

usdchf h4
H4 shows that prices are about to break the thin KUMO indicating a break of equilibrium. The LS is also breaking its KS validating the setup. Next supports are @0.98207 and Daily SSB @ 0.98990.

In case 0.98990 is broken we have a bearish scenario with prices which will tend to move to the weekly KS.