The global economic outlook is on the mend and that has temporarily stalled the slide in the Swiss. The lack of recovery action in the Euro has supported the Swiss of late as has a generally weakening of the US Dollar. Like the Yen, the Swiss is starting to see less outside pressure and that gives credence to 1.05 as a solid fundamental support zone.
Technical Outlook: The daily stochastics have crossed over up which is a bullish indication. Daily momentum studies are on the rise from low levels and should accelerate a move higher on a push through the 1st swing resistance. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 106.02. The next area of resistance is around 105.79 and 106.02, while 1st support hits today at 105.25 and below there at 104.94.