While the Swiss isn’t showing as definitively positive action on the charts as the Euro, it does appear as ifthe Swiss has an up-trend channel in place with the orderly gains off the mid June lows. Up-trend channel supportin the September Swiss is seen today at 1.1180. US data scheduled for release later today doesn’t look to besignificant but we can’t rule out a temporary downside probe in the September Swiss down to 1.1180.
Technical Outlook: Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. A positive signal for trend short-term was given on a close over the 9-bar moving average. The market tilt is slightly negative with the close under the pivot. The near-term upside objective is at 112.41. The next area of resistance is around 112.23 and 112.41, while 1st support hits today at111.79 and below there at 111.54.