FX.co ★ Candlestick analysis of the USD/CHF for December 21

On a 4-hour graph the USD/CHF is declining after a pullback. The viewpoint on the currency pair is still bearish, since earlier the USD/CHF has formed the combination of candlesticks Falling Three Methods, which indicates the downside motion.
These candlesticks show that the USD/CHF was moving upside during a couple of weeks, but a rebound took place after the pair failed to break out the level of 1.0066. This means that the bulls did not solidify 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 the uptrend.
A breakout of the support level of 0.9850 means that this point of view is correct. The breakthrough of 0.9457 will target the currency pair to 0.9462.
It is recommended to place the stop orders slightly above 0.9736, as the breakout of this level will target the pair to 0.9850.