The USD/CHF pair moved back into our old channel after a brief stint below on some relative USD weakness last week. In addition the pair ran into an old resistance level at 1.1030 area, detailed in the chart below. The significance of this level is obvious with the USD/CHF trading lower each time it has hit that level and the large time frame used to devise the 38.2% retracement also speaks to its importance (November 2005 highs and the March 2008 lows.) Stay tuned for further developments on this analysis as the pair might retest its recent highs with a slew of US Economic and Housing data due out this week. CLICK THE ATTACHED CHART FOR THE WEEKLY VIEW AND THE FULL RETRACEMENT ANALYSIS.