The Swiss remains in a downtrend pattern on its charts. Reports that the ECB is going to continue itsslow and stubborn efforts to spark a stronger Euro zone recovery, leaves a layer of resistance hanging over theSwiss. Down trend channel resistance is seen up at 1.0538 today but that resistance line falls down to 1.0528 onFriday.
Technical Outlook: Daily stochastics are trending lower but have declined into oversold territory. Theclose below the 9-day moving average is a negative short-term indicator for trend. The close below the 1st swingsupport could weigh on the market. The next downside target is now at 103.01. The next area of resistance isaround 104.17 and 104.70, while 1st support hits today at 103.33 and below there at 103.01.