While being able to shake off early pressure, the Swiss Franc remains firmly within this week’sconsolidation zone and is showing few signs of mounting any sustained recovery. Until there is clear improvementwith Swiss inflation, fresh inflows of safe-haven support will be needed for the Swiss Franc to lift clear of theserecent price levels. The December Swiss may climb up towards the 108.88 area later today, but near-term upsidewill remain limited at best.
Technical Outlook
CHF (DEC): Momentum studies are declining, but have fallen to oversold levels. The close belowthe 9-day moving average is a negative short-term indicator for trend. The market has a slightly positive tilt withthe close over the swing pivot. The next downside target is now at 108.19. The next area of resistance is around109.05 and 109.20, while 1st support hits today at 108.55 and below there at 108.19.