Like the Euro, the Swiss is poised to forge a downside breakout on its charts in the wake of the USpayroll report. Up-trend channel support off the July 2013 low and the January 2014 low targets a slide down to1.1156 today or Monday.
Technical Outlook: Daily stochastics are trending lower but have declined into oversold territory. Themarket’s short-term trend is negative as the close remains below the 9-day moving average. The swing indicatorgave a moderately negative reading with the close below the 1st support number. The next downside target isnow at 111.38. The next area of resistance is around 112.84 and 113.53, while 1st support hits today at 111.76and below there at 111.38.