At the end of last week, we did see the pair falling sharply after a top at 0,8250. This decline is considered though as a retracement of the previous rally.
The USD/CHF might be carving out a material base which could lead to a bullish development over the middle term. We now need to see a break above 0,8250 to confirm this scenario.
However, a failure to resume its bullish trend soon would maintain the pair under pressure and expose a possible bearish resumption.