Another higher high for the move leaves the bulls in control and with the Euro strong and the Dollar weakit will take a series of positive US data points to reverse current currency market trends. Unlike the Euro, the JuneSwiss might have another 200 points of upside potential before it encounters significant resistance.
Technical Outlook: Momentum studies are trending higher from mid-range, which should support a movehigher if resistance levels are penetrated. The cross over and close above the 18-day moving average is anindication the intermediate-term trend has turned positive. The market setup is supportive for early gains with theclose over the 1st swing resistance. The near-term upside objective is at 114.33. The next area of resistance isaround 114.09 and 114.33, while 1st support hits today at 113.37 and below there at 112.88.