The Swiss looks set to remain in a downward bias on its charts. Top of the down trend channel andresistance is seen today at 1.1157 and that resistance line falls down to 1.1145 on Tuesday. Weakness in Swissstocks, weakness from the Euro and lingering Euro zone deflation concerns looks to leave control of the Swiss inthe hands of the bear camp.
Technical Outlook: Momentum studies are declining, but have fallen to oversold levels. The close belowthe 9-day moving average is a negative short-term indicator for trend. The daily closing price reversal down is anegative indicator for prices. The market setup is somewhat negative with the close under the 1st swing support.The next downside target is now at 110.55. The next area of resistance is around 111.37 and 111.80, while 1stsupport hits today at 110.75 and below there at 110.55.