FXstreet.com (Barcelona) - The USD/CHF has been traded between the 1.1164 support level (March 19, 20, 23 and 25 low) and 1.1330 resistance (March 24 and 25 high) flat channel. Today, the pair has risen 0.45% from the opening price at 1.1215 and reaching 1.1288, as high, and 1.1178 as low.
Currently, the pair is trading around 1.1260/70 band.
According to Nick Nasad, Analyst at CMS, the Swissy has been an interesting currency ever since the Swiss National Bank said that they would and did intervene in the currency markets to weaken the Franc: The USD/CHF has been consolidating since then and how prices react when we reach our channels support and resistance levels will be the main indicator of what the pair will do. I personally think we will see a continuation of our consolidation pattern and should wait to watch price action develop