The 50 day moving average in the December Swiss is seen up at 1.0514 and a rise above that levelcould serve to begin to shift long term sentiment back in favor of the bull camp. As suggested in the Euro, seeingEuro zone car registrations rise for the 14th straight month and seeing stronger than expected German ZEW readings has to embolden buyers of the Euro and Swiss today. We still think that a Ukraine solution is needed toofficially reverse the entrenched downtrends in both the Swiss and Euro.
Technical Outlook: Momentum studies are rising from mid-range, which could accelerate a move higher ifresistance levels are penetrated. The market back below the 18-day moving average suggests the intermediatetermtrend could be turning down. The downside closing price reversal on the daily chart is somewhat negative. Itis a slightly negative indicator that the close was lower than the pivot swing number. The next upside objective is105.02. The next area of resistance is around 104.22 and 105.02, while 1st support hits today at 103.12 andbelow there at 102.81.