Like the Euro, the Swiss remains in control at the start of the new trading week. With a very loweconomic bar for the US and China, the June Swiss might see little in the way of resistance until it returns to themid April high of 1.1443. Support in the June Swiss moves up to 1.1365.
Technical Outlook: The cross over and close above the 40-day moving average indicates the longer-termtrend has turned up. Declining momentum studies in the neutral zone will tend to reinforce lower price action. Theclose above the 9-day moving average is a positive short-term indicator for trend. The close over the pivot swingis a somewhat positive setup. The next downside target is now at 113.27. The next area of resistance is around113.62 and 113.76, while 1st support hits today at 113.38 and below there at 113.27.