I'd keep this simple... Price traded into a strong demand level and on the weekly timeframe, a CHOCH is evident (look at your weekly timeframe).
Last week, the price hunted the trendline sell-side liquidity and I speculate that the price could trade to the daily order block just below sell-side liquidity (equal lows).
Also, the dollar index also gives a view that the dollar will rally which supports the view on USDCHF.