If the Swissie doesn't reject the 1.20 very hard, it will enter into heavy resistance range territory of 1.22 to 1.28.

I pulled up a weekly chart on USDCHF, and you can clearly see that there is a lot of past consolidation in those areas. I usually draw 2 horizontal lines to create a "zone" to trade with.

Basically, if you pull up a weekly chart on any of the Majors, all of them are sitting at a major support or resistance zone. Either we will see a fast rejection, or we will chop around until it has build enough momentum to break through. I doubt it will be a clean fast breakout for any of the currencies.

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