The Swiss has remained under a liquidation wave that is seemingly the result of the ongoing deflation ofUkraine fears. One might also suggest that global macro economic sentiment is on the mend again and thatshould put the Swiss back down to the lows seen last week down at 1.1200. Uptrend channel support from theJanuary and February rally is seen today down at 1.1199.
Technical Outlook: Momentum studies are trending lower from high levels which should accelerate amove lower on a break below the 1st swing support. The market’s short-term trend is negative as the closeremains below the 9-day moving average. The market’s close below the 1st swing support number suggests amoderately negative setup for today. The next downside target is 112.13. Bearish daily studies indicate sellingminor rallies this session. The next area of resistance is around 113.02 and 113.52, while 1st support hits today at112.33 and below there at 112.13.