On a 4-hour graph the USD/CHF has formed the combination of candlesticks Falling Three Methods, which indicates the downside motion.
This combination of candlesticks shows that the currency pair was demonstrating the uprising movement during a couple of weeks, but a rebound took place after the pair could not break through the 1.0066 level. This means that the bulls did not manage to solidify here and the bears started to increase their influence. The downwards movement is supported by the fact that the pair has broken out the line of uprising trend.
A breakthrough of support level of 0.9850 denotes that this point of view is correct and the decline to 0.9667 should be expected.
Stop orders should be placed slightly above 1.0066, since the breakout of this level will target the pair at 1.0280.
