FXstreet.com (Barcelona) - The Dollar Swiss Franc has been one of the biggest movers in today's Asian session; rallying around 200 pips from 1.1588 to 1.1783, where it has formed a double top (Highs on Feb 9 and Feb 17.)
The USD/CHF has been moving into an upward triangle pattern for the last three weeks with higher lows and tops. From now on we might expect the pair to find support in the 1.1720/40 area to test important resistance level again at 1.1785.
According to the Mataf.net technical team, the USD/CHF is under bullish pressure which might take it to levels around 1.1900: USD CHF is in a consolidation after the last bullish movement. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a resistance below 1,1785 (42 pips). If the resistance breaks then the target will be 1,1900 (157 pips).