After a slight recovery bounce in the Swiss, some of the oversold condition has been tempered. A slightpolitical rift between the EU and Swiss officials, on free movement rules, might add to the downward pressure inthe Swiss going forward. Look to sell a rally in the December Swiss back up to 1.0721, looking for more new lowsfor the move ahead.
Technical Outlook: Daily stochastics are showing positive momentum from oversold levels, which shouldreinforce a move higher if near term resistance is taken out. The close above the 9-day moving average is apositive short-term indicator for trend. The upside closing price reversal on the daily chart is somewhat bullish.The market has a slightly positive tilt with the close over the swing pivot. The next upside objective is 108.01. Thenext area of resistance is around 107.71 and 108.01, while 1st support hits today at 106.61 and below there at105.80.