Technical damage on the charts overnight would seem to leave the December Swiss poised for a return to the mid October consolidation lows down at 1.0454 and perhaps even 1.04. The biggest influence on the Swissin the coming sessions is likely to be fresh upside action in the Dollar which means the downward tilt in the Swissis taking place because of conditions outside of Switzerland.
Technical Outlook: Stochastics are at mid-range but trending higher, which should reinforce a movehigher if resistance levels are taken out. The market’s close above the 9-day moving average suggests the shorttermtrend remains positive. The outside day down is a negative signal. The market setup is somewhat negativewith the close under the 1st swing support. The next upside target is 106.73. The next area of resistance isaround 105.96 and 106.73, while 1st support hits today at 104.92 and below there at 104.64.