FXstreet.com (Barcelona) - The USD has risen against the CHF around 80 pips from the 1.1195 to reach the 1.1275, intraday high, in the last two hours. Currently the pair is trading around the 1.1240/60 band.
The USD/CHF has been traded between 1.1190 and 1.1240 range along today's trading session. After beginning European session, the pair has begun to rise, breaking 1.1240, to be placed above the 1.1250 level.
According to Tim Salem, FXstreet.com collaborator, the USD/CHF is on consolidation movement: Large area of Consolidation ranging from 1.1169 Dynamic Support to 1.1242 remains despite Bullish Momentum off of the Swing-Low @ 1.1175 Support a few hours earlier. RSI Reading remains neutral as the 20SMA provides dynamic Downtrend sloping Resistance off of the 1.1236 Dynamic Level (excluding Wicks). A breach of this level is need for Upside Continuation reaching 1.1255/61 Resistance followed by 1.1292. Downside failures @ 1.1236 will find the Figure/Handle @ 1.1200 back to 1.1175 in the Near-Term.
Salem provides us with his levels: Support levels: 1.1292 1.1279 1.1255 1.1234. Resistance levels: 1.1310 1.1323 1.1350 1.1383