The USD/CHF has had a roller coaster ride this year. After a sharp dip in January due to the SNB's unpegging of the CHF to the EUR, USD/CHF has been rallying back towards the 1.0240 high on the year. However, the USD has been sliding since March due to weak US data and the subsequent delay in the FOMC's rate hike plan.USD/CHF Daily Chart 5/27(click to enlarge) In May, USD/CHF appears to have formed a double bottom and is attacking the falling channel resistance this week. A break above 0.95 would clear the channel and the cluster of 200-, 100-, and 50-day simple moving averages. This would open up the 1.0127-1.0240 highs on the year. USD/CHF 4H Chart 5/27(click to enlarge)In the 4H chart, we can see that if price falls below the 0.9385 level, the bullish attempt would be neutralized. A break below 0.93 would then keep the USD/CHF bearish especially if the 4H RSI falls back below 40 .In this scenario, the USD/CHF would have the 0.90 handle in sight.