USD / CHF dipped to 0.9784 last week but came back quickly. The initial bias remains neutral this week, and the outlook remains unchanged. Corrective pattern from 0.9901 may still be expandable. Breaks of 0.9665 minor support will reverse the bias of the 0.9588 support and possibly below. But overall, the downside at the 61.8% retracement included from 0.9181 to 0.9901 at 0.9456 to rebound. On the front, breaches of 0.9802 will target a 0.9901 high test.
In the bigger picture, decline from 1.0237 is seen as the third part of the pattern from 1.0342 (low in 2016). It could have ended at 1 p.m. 0.9181 after hitting 0.9186 key support (low 2018). Break of 0.9901 will extend the rebound mold 0.9181 to 1.0023 resistance. After all, in the medium term, trading is likely to continue between 0.9181 / 1.0237 for a longer period.
In the long-term picture, price action from 0.7065 (low 2011) is not yet clearly impulsive. Thus, we treat it as evolving into a corrective pattern, at least until a fixed rupture of 1,0342 resistance.