The trend is down and the unrelenting Dollar is expected to keep pressure on the Swiss unless the US payrolls are definitively disappointing. With fresh Putin defiance keeping the threat of sanctions in place, the best bulls can hope for in the December Swiss is a weak return to down trend channel resistance of 1.0355 but that resistance line falls down to 1.0343 on Monday.
Technical Outlook: The market made a new contract low on the break. Daily stochastics are trending lower but have declined into oversold territory. The close below the 9-day moving average is a negative shortterm indicator for trend. The outside day up is somewhat positive. The market setup is supportive for early gains with the close over the 1st swing resistance. The next downside objective is now at 101.35. The next area of resistance is around 103.78 and 104.50, while 1st support hits today at 102.20 and below there at 101.35.