Like the Euro, the Swiss has attempted to rally but that effort was rejected and the currency enters thesecond session of the week on a negative track. Consolidation low support in the December Swiss is seen downat 1.0422, with a somewhat critical up trend channel support line seen closer-in at 1.0451.
Technical Outlook: Momentum studies are rising from mid-range, which could accelerate a move higher ifresistance levels are penetrated. The cross over and close above the 18-day moving average is an indication theintermediate-term trend has turned positive. The market setup is supportive for early gains with the close over the1st swing resistance. The next upside objective is 105.76. The next area of resistance is around 105.58 and105.76, while 1st support hits today at 104.88 and below there at 104.36.