A pattern of higher highs and higher lows leaves the technical picture in the Swiss in the bull’s court. Perhaps the Euro and Swiss are partially relieved with a 72 hour cease fire in the Ukraine but more than likely thenegatives are going to continue to flow from both Iraq and the Ukraine and perhaps the Swiss is poised to simplyclaw its way toward its 100 day moving average up at 1.1279.
Technical Outlook: The cross over and close above the 40-day moving average is an indication thelonger-term trend has turned positive. Rising stochastics at overbought levels warrant some caution for bulls. Themarket’s short-term trend is positive on the close above the 9-day moving average. A positive setup occurred withthe close over the 1st swing resistance. The next upside target is 112.64. The next area of resistance is around112.52 and 112.64, while 1st support hits today at 112.12 and below there at 111.83.