FXstreet.com (Barcelona) - The Dollar, after having opened the day on a weak pace against the Swiss Franc, declining from 1.1310, has attempted to bounce at 1.1240, although recovery seems to have stalled at 1.1310 (Apr 2 low).

Resistance levels stand at 1.1300/10, and above here 1.1350/55. If the Dollar reaches above here, next resistance level could come at 1.1390 (Apr 3 high). On the downside, support levels come at 1.1240 (today's low), and once below here, 1.1226 (Mar 24 low) and 1.1165 (Mar 20 low).

On a longer point of view, Franco Shao, technical analyst at ForexCycle.com, the USD/CHF remains on the downtrend: USDCHF remains in downtrend from 1.1963, the rise from 1.1159 is more likely consolidation of the downtrend. The pullback from 1.1548 could possibly be resumption of the downtrend. Deeper decline is expected to test 1.1159 support, a break down below this level will signal further fall towards 1.0800 zone.

Regarding the weekly chart, Shao observes that the pair could have formed a bottom at 1.0366: For long term analysis, USDCHF has formed a cycle bottom 1.0366 level on weekly chart. Consolidation in a range between 1.0366 and 1.2296 is expected in a couple of months.