Like the Yen, the Swiss has seemingly lost some of its safe haven bid this morning in the face of aslightly positive shift in the Ukraine situation. A little stronger bid in the Euro has probably taken some of theupward bias away from the Swiss, which in turn might have seen a spike up reversal pattern at the start of thenew trading week. Up trend channel support and a target is seen down at 1.1240.
Technical Outlook: Momentum studies are trending higher but have entered overbought levels. Themarket’s close above the 9-day moving average suggests the short-term trend remains positive. The market has aslightly positive tilt with the close over the swing pivot. The near-term upside objective is at 113.14. The next areaof resistance is around 112.94 and 113.14, while 1st support hits today at 112.40 and below there at 112.05.