A temporary oversold technical condition and a setback in the Dollar has temporarily taken the downward pressure off the back of the Swiss. Like the Yen, the Swiss earlier this week saw its short term technical indicators reach the most oversold levels since September of 2014. Down trend channel resistance is seen today up at 1.0130 but that resistance falls down to 1.0079 on Friday morning.
Technical Outlook: Momentum studies are declining, but have fallen to oversold levels. The close below the 9-day moving average is a negative short-term indicator for trend. The swing indicator gave a moderately negative reading with the close below the 1st support number. The next downside objective is 98.32. The 9-day RSI under 20 suggests the market is extremely oversold. The next area of resistance is around 100.13 and 101.09, while 1st support hits today at 98.75 and below there at 98.32.