While the chart looks a little negative to start this morning, talks between Russia and Ukraine might be expected to improve, as Russia has to be growing less confident in their ability to stand up to sanctions in thewake of significant declines in oil prices! As suggested in other coverage this morning, we might also expect theSwiss to catch some support from slack US scheduled data and the potential for dovish US Fed dialogue tosurface directly ahead.
Technical Outlook: Stochastics are at mid-range but trending higher, which should reinforce a movehigher if resistance levels are taken out. The close above the 9-day moving average is a positive short-termindicator for trend. The market’s close below the pivot swing number is a mildly negative setup. The near-termupside objective is at 105.81. The next area of resistance is around 105.30 and 105.81, while 1st support hitstoday at 104.50 and below there at 104.20.