The March Swiss appears to be coiling in a tight range as if a major decision is expected later today.Clearly macro economic anxiety has declined this week and as long as the US data is strong enough to keep a lidon economic uncertainty, the Swiss might be able to come away from the data point with a weak upward bias.
Technical Outlook: The cross over and close above the 60-day moving average indicates the longer-termtrend has turned up. Declining momentum studies in the neutral zone will tend to reinforce lower price action. Themarket now above the 18-day moving average suggests the intermediate-term trend has turned up. The dailyclosing price reversal up on the daily chart is somewhat positive. It is a mildly bullish indicator that the marketclosed over the pivot swing number. The next downside target is now at 109.80. The next area of resistance isaround 111.65 and 112.20, while 1st support hits today at 110.45 and below there at 109.80.