Even though the USDCHF has rallied a little in the last 24 hours, the last couple of weeks have seen it ease off slightly from the key resistance level at 1 after it enjoyed a solid rally from a several week low below 0.98. Parity remains a key level and is likely to continue to influence price. It was only earlier last month that the USDCHF eased slowly, but steadily from its recent multi-month highs above 1. Prior to the recent decline, the USDCHF has moved very strongly from multi-year lows below 0.92 in February up to around parity in early May. The surge higher was quite pronounced between mid-April and mid-May which saw the pair move 400 pips.