The currency since the start of year gained more than 2.0% and last week rallied more than 0.5% however is still in a recovery phase since mid-January 2016.
Last week the USDCHF rallied with a narrow range and closed near the high week, furthermore closed above the previous week high, suggesting a strong bullish momentum. Although is testing a weekly resistance that is the 2015 high.
Stochastic is showing a strong bullish momentum and is above the 50 mid line.
Expecting an upward move to a Fibonacci extension at 1.0637 (scenario 1) on a break above the 2015 high at 1.0327 or a break below the weekly resistance at 1.0189 could push the currency down to a weekly support at 0.9838 (scenario 2).