FX.co ★ Candlestick analysis of the USD/CHF for December 9

On a 4-hour chart the USD/CHF rebounded to the 0.9724 level. Nevertheless, at present the point of view is still bearish, since earlier the USD/CHF has formed the combination of candlesticks Falling Three Methods, which indicates the decrease.
This combination of candlesticks shows that the USD/CHF was demonstrating the uprising movement during a couple of weeks, but the pair rebounded, after it failed to break out the 1.0066 level. This means that the bulls did no manage to solidify here and the bears started increasing their presence. The upside tendency is supported by the fact that the pair has successfully broken through the line of uptrend.
A breakout of support level of 0.9850 means that this viewpoint is correct and further decline should be expected.
It is recommended to place the stop orders slightly above 0.9950, as the breakthrough of this level will target the pair to 1.00066.