The uptrend pattern continues in the September Swiss with support today off the last two weeks lowsseen at 1.1167. Like the Euro, the Swiss is likely to see its tone and direction set today by the US durable goodsand US GDP revision results. We have to leave the edge with the bull camp and a rise back above 1.1212 couldset the state for a retest of last week’s highs.
Technical Outlook: Stochastics are at mid-range but trending higher, which should reinforce a movehigher if resistance levels are taken out. The market’s short-term trend is positive on the close above the 9-daymoving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The near-termupside target is at 112.35. The next area of resistance is around 112.16 and 112.35, while 1st support hits todayat 111.74 and below there at 111.51.