The Swiss also has a pattern of lower highs and lower lows but the magnitude of the slide from therecent highs is rather narrow. Up-trend channel support in the September Swiss is seen down at 1.1206 todayand that support line rises to 1.1214 on Thursday. In the face of acceptable US jobs data ahead, the SeptemberSwiss could see a temporary decline below the 1.1200 level.
Technical Outlook: Rising stochastics at overbought levels warrant some caution for bulls. A positivesignal for trend short-term was given on a close over the 9-bar moving average. The downside closing pricereversal on the daily chart is somewhat negative. The market has a slightly positive tilt with the close over theswing pivot. The next upside target is 113.08. The next area of resistance is around 112.90 and 113.08, while 1stsupport hits today at 112.62 and below there at 112.52.