USD/CHF: detailed chart illustration. Where are we headed next?

As it can be derived from the high-timeframe chart of 16H, after penetrating through the lower barrier of the ascending channel illustrated on the graph, the price is now headed towards the highlighted region of resistance that lines up with the 61.8% Fibonacci retracement level identified from the recent impulsive leg.

As our sentiment remains bearish, our focus is dedicated towards entering short positions and riding the bearish wave. Hence, if our entry criteria is met and the level we have our eyes on is rejected by the price, we will look into executing SELL positions and targeting the zone of support marked on the graphic.