The cros traded lower yesterday....>

EURO-SWISS TECHS: The cros traded lower yesterday registering a fresh low print

at 1.0660. From a trend perspective, the outlook remains bearish. The key

technical features are:

- The breach yesterday of former support at 1.0664, Feb 3 low confirms a

resumption of the downtrend maintaining a bearish price sequence of lower lows

and lower highs.

- The move lower has opened 1.0632 and 1.0623, lows last seen in Feb 2017 and

Jun 2016.

- The recent relevant short-term technical pattern (since Jan 28) is a pennant.

This is a continuation pattern reinforcing a bearish outlook.

- Key resistance is at 1.0738, Jan 29 high. A break here is required to alter

the picture.