The best the Swiss economy could muster overnight was a minimal decline in Swiss leading indicator data and that leaves the fear of slowing in place. Some might suggest that the Swiss is short term oversold but given the fundamental and technical setup, we would suggest that position traders look to sell a rally in the March Swiss back up to the 1.0183 level.
Technical Outlook: The market broke to a new contract low. Daily stochastics are trending lower but have declined into oversold territory. A negative signal for trend short-term was given on a close under the 9-bar moving average. The close below the 1st swing support could weigh on the market. The next downside target is now at 100.89. The next area of resistance is around 101.70 and 102.12, while 1st support hits today at 101.09 and below there at 100.89.