Looks like the USDCHF market is going to respect the old support level as new resistance here and head back down to the next major support.
This could be the start of a ranging structure.
There was a bearish rejection candle last session, it’s hard to build value into the trade because it formed in the middle of no where, not off an important level.
But the rejection candlestick does communicate higher prices were denied that session and the bearish seem to be the dominant force at the moment.
If the market does sell off from this pattern, we could look for strong buy signals at the next support coming up.
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