Sharp Rally:If you look at the 4H USD/CHF chart, you see a sharp swing from about 0.87 to just above 0.8950 in a little more than a week. This started after a dovish ECB press conference that pressured the EUR, and indirectly dragged the CHF down because of the EUR to CHF peg by the Swiss National Bank. (usdchf 4h chart)Upswing Stalled: The 4H chart shows this may be a technical retracement since the oscillators were overbought. But when we look at the daily chart, there is a reason to anticipate topping here around 0.8950. (usdchf daily chart)Resistance:The daily chart shows a couple more resistance factors.1) 200-day SMA2) A previous pivot at 0.8952. 3) The daily stochastic is overbought, and is turning down4) The prevailing trend is bearish, though it has neutralized since establishing a 2014-low near 0.87.We can say the market in the daily chart is bearish-neutral. But that means there is bearish bias.Bearish Outlook Scenario:A conservative bearish outlook would be first down to the 0.8810-20 area, near the middle of the consolidation range between 0.87 and 0.8950. This scenario considers the possibility that the market is trying to find a price bottom, and thus limits the bearish outlook.However, downside risk is down to 0.87. The bullish outlook should be shelved in the daily chart until a clear break above 0.8952 and the 200-day SMA, and preferably a break above a falling trendline from Nov. 2013.