FX.co ★ Candlestick analysis of the USD/CHF for December 22

On a 4-hour graph the USD/CHF is testing the support level of 0.9559 again. The viewpoint on the currency pair is still bearish as earlier the USD/CHF has formed the combination of candlesticks Falling Three Methods which indicates the downside movement.
This combination of candlesticks shows that the USD/CHF was increasing during a couple of weeks, but the rebound took place after the USD/CHF failed to break out 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 currency pair broke through the line of uptrend.
A breakthrough of support level of 0.9850 confirms this point of view. The breakout of 0.9559 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 currency pair to 0.9850.