FXstreet.com (Barcelona) - The rally initiated at 1.1720 at the beginning of today's session has made the USD/CHF rise more than 170 pips, break the 1.1827 resistance (monthly high), and reach a new monthly maximum at 1.1890 in the early European session.
The USD/CHF is trading right now at 1.1860/80 band, consolidating the last movement, if the bullish trend is confirmed, the pair could go up to the 1.2000/1.2300 levels, reaching new yearly highs. In fact, next resistance is 1.1900, but the pair will be looking for 1.2000 line, as December eleven high.
According to Igor Kulaga, Analytic and Risk manager at Forex Ltd: The pre-planned buying positions from key supports range were realized with attainment of assumed target. OsMA trend indicator, having marked generally low activity of both parties gives reasons for the preservation of the current tendency we assume the possibility of rate return to 1.1760/80 support range, where it is recommended to evaluate activity development of both parties according to the charts of shorter time interval.