Since the beginning of the year, the currency lost over 2.0% but last week managed to rally more than 1.4% and made a phase change, shifting from a distribution to a warning phase. Last week the USDCHF rallied with a wide range and closed near the high of the week, in addition managed to close above the previous week high, which suggests a strong bullish momentum. The stochastic is showing a strong bullish momentum and crossed above the oversold zone although is still below the 50 mid line. Finally the currency pair has found buying pressure within a weekly support and began to push upward in addition managed to close above the 10-week moving average, signs of a strong bull sentiment. Expecting an upward move to a weekly resistance at 0.9658 on a break above the previous week high at 0.9534 (scenario 1) nevertheless a bounce from a Fibonacci retracement at 0.9458 could trigger a bullish run up to a weekly resistance at 0.9658 (scenario 2).