Stay below the moving average is more bearish
The USDCHF has cracked below its 100 day moving average at 0.96865 (blue line). If the price can stay below that level the bears will remain in control.
At the end of April and at the highs last week, the price on the daily chart stalled near its 200 day moving average (topside green line at 0.97839 currently). That ceiling has given sellers some control. The move below the 100 day moving average is trying to increase that control.
On the daily chart, the next target would be around the 0.9622 area (38.2% retracement of the move up from the March low).