FX.co ★ Candlestick analysis of the USD/CHF for December 20

On a 4-hour graph the USD/CHF currency pair rebounded from the support level near 0.9547. The viewpoint on the currency pair remains bearish, as earlier the USD/CHF has developed the combination of candlesticks Falling Three Methods, which indicates the downwards movement.
This combination of candlesticks shows that the USD/CHF was demonstrating the uprising movement during several weeks, but rebounded after it 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 influence. The downside movement is supported by the fact that the currency pair has broken through the line of uptrend.
A breakthrough of support level of 0.9850 confirms this point of view. The breakout of 0.9547 will target the currency to 0.9462.
It is recommended to place the stop orders slightly above 0.9736, as the breakthrough of this level will target the currency pair to 0.9850.