Since the beginning of the year the currency lost almost 6.0% however last week managed to rise more than 1.0% and is in a bearish phase since mid-May. Last week the USDCHF tried to rise but found enough selling pressure near 0.97 to erase some of its gains and in the middle of the weekly range, in addition closed within the previous week range, which suggests being clearly neutral, neither side is showing control. The stochastic is showing lack of momentum although is below the 50 mid line. Expecting a downward move to a Fibonacci extension at 0.9365 on a bounce from the weekly resistance at 0.9614 (scenario 1) nevertheless a bounce from the Fibonacci extension at 0.9365 could trigger a bullish run on the currency pair up to a weekly resistance at 0.9614 (scenario 2).