The Swiss appears to be back in vogue along with the Euro to start the new trading week. In fact, seeingthe Swiss tracking higher this morning in the face of patently discouraging Euro zone industrial output data isimpressively especially with the head of the EU hinting at the prospect of restraining rises in the Euro ahead. Uptrendchannel support in the September Swiss today is seen at 1.1201 and that up-trend channel support linerises to 1.1208 on Tuesday.
Technical Outlook: Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. A negative signal for trend short-term was given on a close under the 9-bar movingaverage. The close over the pivot swing is a somewhat positive setup. The next downside objective is 111.89.The next area of resistance is around 112.29 and 112.40, while 1st support hits today at 112.03 and below thereat 111.89.