Morning Report

The Dollar versus Swissy pair surged to the upside in an attempt to breach the key resistance at 1.0675, yet the continuous closing below this level pressures the pair to the downside as we see the possibility of forming a triple top. From here we expect the pair is to decline on the intraday basis to breach the 1.0550 critical support and open the way towards 1.0400 and 1.0000, respectively. Trading below 1.0665 will keep the trend to the downside.

The trading range for today is among the key support at 1.0300 and the key resistance at 1.0915

The general trend so far is to the upside as far as 1.0550 remains intact with targets at 1.2245

RecommendationBased on the charts and explanations above, our opinion is selling the pair with the breach of 1.0550 to 1.0400 and stop loss above 1.0675 might be appropriate.