On a 4-hour chart the USD/CHF rebounded to the resistance level of 0.9850-0.9870.
Earlier the currency pair has formed the combination of candlesticks Falling Three Methods, which indicates the downwards movement.
This combination of candlesticks shows that the USD/CHS was rising during a couple of weeks, but rebounded after it failed to break through the level of 1.0066. This means that the bulls did not manage to solidify here and the bears started increasing their influence. The downside movement is supported by the fact that the pair has successfully broken through the line of the uptrend.
A breakout of the support level of 0.9850 means that this point of view is correct and the decrease to 0.9667 should be expected.
It is recommended to place the stop orders slightly above 1.0066, since the breakthrough of this level will target the pair to 1.0280.
