The stronger than expected US Non-farm payroll results continue to weigh on the Swiss, especially with disappointing German Industrial output figures undermining European currencies. The next lower support zone inthe September Swiss comes in down at 1.1150 but closer in support from the initial overnight low is seen at1.1169.
Technical Outlook: A crossover down in the daily stochastics is a bearish signal. Stochastics turningbearish at overbought levels will tend to support lower prices if support levels are broken. The close below the 9-day moving average is a negative short-term indicator for trend. The market is in a bearish position with the closebelow the 2nd swing support number. The next downside objective is 110.99. The next area of resistance isaround 112.51 and 113.08, while 1st support hits today at 111.47 and below there at 110.99.