FXstreet.com (Barcelona) - USD/CHF was capped on Wednesday at 1.1850 on its rally from 1.1455 (Feb 20 low), the pair suffered a corrective reaction at 1.1850 and fell to a minimum of 1.1646, to pick up above 1.1715 resistance area, at the moment the pair is consolidating above the aforementioned support level.
On the upside, the pair could attempt to rise towards 1.1765/80 resistance area, and once over here 1.1820 would be the last obstacle to attempt an assault to two-week high at 1.1850(Mar 4 high). On the downside , failure to remain above 1.1715 could increase pressure towards 1.1635/45, and below there 1.1600/15.
According to Igor Kuluaga, technical analyst at Forex LTD the pair could rise towards 1.1760/80 today: OsMA trend indicator, having marked bearish activity advantage at the break of key supports gives reasons for sells planning priorities in trading operations planning for today. Hence and considering the ascending direction of indicator chart we assume the possibility of rate return to 1.1760/80 resistance range, where it is recommended to evaluate activity development of both parties according to the charts of shorter time interval.