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In view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair still looks offered as long as it trades below the 0.9963 level.

Key Quotes

USD/CHF despite the recovery, the market remains offered while capped by the .9963 6 month downtrend and attention on the .9844/41 September and October lows. Failure at the next lower .9799 September low would push key support at .9716/.9659 to the fore. This is the location of the January, June, mid- and late August lows. Below here sits the .9659 August low and the September 2018 low at .9543″.