The Swiss has reversed course from last week’s peak and it appears that a return to 1.13 might beahead. Weakness in the Euro, fears of a negative impact from another round of Russian sanctions and generallypositive US data should leave the bear camp in control of the Swiss.
Technical Outlook: Momentum studies are trending higher but have entered overbought levels. The closeabove the 9-day moving average is a positive short-term indicator for trend. With the close higher than the pivotswing number, the market is in a slightly bullish posture. The next upside target is 114.59. The next area ofresistance is around 114.39 and 114.59, while 1st support hits today at 114.03 and below there at 113.86.