Interest in the upward track on the charts remains in place this morning, with the potential for a near termupside extension to 1.05 possible in the event that US housing data shows anything less than expectations.Support in the December Swiss moves up to 1.0418 today and that support level should rise to 1.0446 onThursday.
Technical Outlook: Momentum studies are rising from mid-range, which could accelerate a move higher ifresistance levels are penetrated. The market now above the 18-day moving average suggests the intermediatetermtrend has turned up. The market setup is supportive for early gains with the close over the 1st swingresistance. The next upside target is 105.07. The next area of resistance is around 104.82 and 105.07, while 1stsupport hits today at 103.96 and below there at 103.35.