We peg support at 1.0349 on the monthly charts but we aren’t overly optimistic that support will hold ahead. As in other currencies the next big selling force in the Swiss might be anything even slightly upbeat fromprivate or public US jobs figures. Next downside targeting is seen at 1.0333 and then not until the 1.0259 level.
Technical Outlook: Daily stochastics are trending lower but have declined into oversold territory. Themarket’s short-term trend is negative as the close remains below the 9-day moving average. With the close overthe 1st swing resistance number, the market is in a moderately positive position. The next downside objective is103.28. The next area of resistance is around 104.57 and 104.89, while 1st support hits today at 103.77 andbelow there at 103.28.