CHF has been on an insane rally over the last while but after forming a head and shoulders pattern on the 4 hour chart we have seen a very sharp fall off in this pair. We may see the selling stop in the 113 area, this is the first big area to look for buys but in the immediate future it seems more likely we can see further bearish momentum in this pair. Selling bounces may be a profitable strategy while the pair trades in thr 114.xx area.