Like the Euro, the Swiss remains technically entrenched in a downward bias. However, the June Swisshas some initial even number support at 1.1100 but a return to and below the June low of 1.1065 looks to be inthe cards over the coming trading sessions as policy decisions by the ECB leaves Euro related currencies undera liquidation cloud.
Technical Outlook: The daily stochastics have crossed over down which is a bearish indication. Dailystochastics declining into oversold territory suggest the selling may be drying up soon. A negative signal for trendshort-term was given on a close under the 9-bar moving average. It is a slightly negative indicator that the closewas under the swing pivot. The next downside objective is 110.72. The next area of resistance is around 111.46and 111.77, while 1st support hits today at 110.94 and below there at 110.72.