Like the Euro, the Swiss looks set to slide in the wake of residual Euro zone growth fears, ongoing interest toward the Dollar and also because of rising anxiety toward Russia. Thin support is seen down at 1.0172 and traders should look to sell rallies of 50 points.
Technical Outlook: Momentum studies are declining, but have fallen to oversold levels. A negative signal for trend short-term was given on a close under the 9-bar moving average. The market’s close below the pivot swing number is a mildly negative setup. The next downside objective is now at 101.39. The next area of resistance is around 101.98 and 102.28, while 1st support hits today at 101.54 and below there at 101.39.