FXstreet.com (Barcelona)- The Dollar continues rallying against the Swiss Franc and it squeezed through 1.1800 resistance level on Wednesday's Asian session, in a bullish move tat had its peak at 1.1850, to drop back afterwards; the Dollar remains above 1.1800 and is approaching its highest levels in three months.
Once above 1.18.00 the USD/CHF could attempt to break 1.1880 resistance level (Feb 20 high) and above here the pair would approach 1.1956 (Dec 5 low). On the downside, below 118.00, next support level comes at 1.1720 and 1.1660.
According to the Mataf.net technical team, the pair seems in good shape to continue upwards: USD CHF broke 1,1800 resistance. USD CHF is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a support above 1,1750 (51 pips). The uptrend should continue to gather momentum.