On a 4-hour graph the USD/CHF fell strongly. The viewpoint is still bearish, since earlier the USD/CHF has formed the combination of candlesticks Falling Three Methods, which indicates the downwards motion.
This combination of candlesticks shows that the pair was moving upside during a couple of weeks, but a rebound took place after the pair failed to break out the 1.0066 level. This means that the bulls did not manage to fixate here and the bears started to increase their presence. The downside movement is supported by the fact that the currency pair has successfully broken through the line of uptrend.
The breakout of the support level of 0.9850 confirms this point of view; in this case the decline to 0.9667 should be expected. The breakthrough of this level will target the pair to 0.9547. It is recommended to place the stop orders above 0.9950, since the breakout of this level will allow the USD/CHF to reach 1.00066.
