Like the Euro, the Swiss has seen a modest recovery bounce overnight and that rally attempt might bereversed in the wake of US scheduled data flows. It is also possible that some of the bounce in the Swiss thismorning, is the result of status quo conditions in the Ukraine. Pushed into the market today we would look to be aseller of the June Swiss on a rise to 1.1410.
Technical Outlook: Studies are showing positive momentum but are now in overbought territory, so somecaution is warranted. The close above the 9-day moving average is a positive short-term indicator for trend. It is aslightly negative indicator that the close was lower than the pivot swing number. The near-term upside target is at114.12. The next area of resistance is around 113.87 and 114.12, while 1st support hits today at 113.42 andbelow there at 113.21.