The Swiss might be poised to claw its way back to the mid-October highs and part of that upward trackneeds to be built on better growth views for the Euro zone. However, would-be buyers of the Swiss probably needto buy a correction back to 1.0506 and perhaps to 1.0479 if the US Fed comes off a little more hawkish thanexpected today.
Technical Outlook: Stochastics trending lower at midrange will tend to reinforce a move lower especially ifsupport levels are taken out. The market’s close above the 9-day moving average suggests the short-term trendremains positive. The market has a slightly positive tilt with the close over the swing pivot. The next downsidetarget is 104.84. The next area of resistance is around 105.99 and 106.32, while 1st support hits today at 105.25and below there at 104.84.