Negative chart action puts the Swiss in a position to see some knock on technically based selling ahead.Like the Euro, the Swiss is vulnerable to fresh hawkish US Fed dialogue and it is also vulnerable to morecorrective action off the 3 month rally at the start of the year. Near term downside targeting is seen down at1.1252.
Technical Outlook: Declining momentum studies in the neutral zone will tend to reinforce lower priceaction. The close below the 9-day moving average is a negative short-term indicator for trend. With the closehigher than the pivot swing number, the market is in a slightly bullish posture. The next downside objective is113.01. The next area of resistance is around 113.57 and 113.72, while 1st support hits today at 113.21 andbelow there at 113.01.