The short term trend in the Swiss is pointing upward as tensions between Russia and the Ukraine haven’tworsened significantly, global equities are showing generally positive attitudes and there is at least some hopethat the ECB stimulus will provide some benefit to the European economic zone. As in the Euro, the Swissprobably has significant overhead resistance from the mid-October consolidation zone. Up-trend channel supporttoday is seen at 1.0515.
Technical Outlook: Momentum studies trending lower at mid-range should accelerate a move lower ifsupport levels are taken out. The close below the 9-day moving average is a negative short-term indicator fortrend. With the close over the 1st swing resistance number, the market is in a moderately positive position. Thenext downside objective is 104.85. The next area of resistance is around 105.61 and 105.82, while 1st supporthits today at 105.13 and below there at 104.85.