FXstreet.com (Barcelona) - The Dollar has rallied against the Swiss Franc from double bottom at 1.1460 (Feb 20 and 23 low) reaching a maximum level of 1.1796 in Mar 2, to consolidate between 1,-.1680 and 1.1780 afterwards.
On the longer term, the pair seems to be trading below the support line of the previous rally from 1.1110 (Jan 16 low.).
According to James Whyte, technical analyst at Forex Americas, the mentioned resistance level could be broken having in account the bid tone of the USD: In this 4 hour chart we noticed a previous support line acting as a resistance line in the latest trend. Although not defined, the level around this line seems to bring resistance. The next resistance level on this line comes in at 1.1795/1.1800, and support on the current trend touches at 1.1660/50. The resistance line maybe short lived given the continued bid U.S. dollar.