The Swiss has started out with a slightly weaker track on the charts and it has also fallen back below the100 day moving average at 1.1064. Critical support might be seen down at 1.1038 but seeing soft USemployment data later this morning, might provide the Swiss with some fundamental support on the charts.
Technical Outlook: The market back below the 60-day moving average suggests the longer-term trendcould be turning down. Stochastics trending lower at midrange will tend to reinforce a move lower especially ifsupport levels are taken out. The close under the 18-day moving average indicates the intermediate-term trendcould be turning down. The market tilt is slightly negative with the close under the pivot. The next downside targetis 110.03. The next area of resistance is around 110.99 and 111.34, while 1st support hits today at 110.33 andbelow there at 110.03.