FXstreet.com (Barcelona) - The Swiss Franc is rallying against most majors during today's European session, with the USD/CHF dropping about 150 pips from 1.1711 on Monday's late U.S. session failing to hold above 1.1660, and it and dropping below 1.1560 so far.

GBP/CHF has been rejected at 1.7035, all the way down to 1.6735, the pair is trying to pick p from that level. On its way up the par might find resistance at 1.6800 and 1.6825.

CHF/JPY has bounced up from 80.46 and rallied past 81.75 to reach 82.80 so far. Next resistance level appears at 83.30, although the CHF is overbought on hourly charts and some correction might occur.