The Swiss is catching a lift from short covering and from the quasi recovery action in the Euro. However,the primary reason for the rally in the Swiss is probably hope for a clearing of economic clouds in the wake ofRussian troop pullbacks in the Ukraine. Solid support in the December Swiss moves up to 1.0485 and there islittle resistance seen until the 1.0520 level.
Technical Outlook: Stochastics are at mid-range but trending higher, which should reinforce a movehigher if resistance levels are taken out. The market’s close below the 9-day moving average is an indication theshort-term trend remains negative. It is a slightly negative indicator that the close was lower than the pivot swingnumber. The next upside target is 105.26. The next area of resistance is around 104.79 and 105.26, while 1stsupport hits today at 104.08 and below there at 103.83.