USDCHF – Breakout Formation In Play (4hr chart)
Building a series of successive higher lows (HLs), the USDCHF produced a breakout formation which is now in play by clearing the 1.0125 level.
Notice the double rejection on the breakout pullback at 1.0125 showing the market is treating this as a key role reversal level for now. If this level holds, then we’ll likely see a solid upside run towards 1.03.
Only a daily close below 1.0075 negates the bullish ST momentum and bias.
NZDUSD – Potential False Break Setup (4hr chart)
After double tapping the key role reversal level at the 65 handle, the NZDUSD price action briefly broke above it for just under a day. However, selling pressure above …