With an ongoing pattern of lower highs, somewhat slack German economic news overnight and alooming US Fed meeting, the bear camp retains the edge in the Swiss. Near term downside targeting is seendown at 1.1104 and it could take a rally back above 1.1170 to fully shift the outlook in the Swiss in favor of the bullcamp.
Technical Outlook: The crossover up in the daily stochastics is a bullish signal. Daily stochastics areshowing positive momentum from oversold levels, which should reinforce a move higher if near term resistance istaken out. A negative signal for trend short-term was given on a close under the 9-bar moving average. Themarket has a slightly positive tilt with the close over the swing pivot. The near-term upside target is at 111.76. Thenext area of resistance is around 111.65 and 111.76, while 1st support hits today at 111.19 and below there at110.85.