Morning Report

The dollar versus Swissy pair continued to trade below the 1.0550 pivot level, which altered the general trend to the downside targeting 1.0000. We see the pair is entering an oversold area, as theindicator on momentum indicators, makes us expect a slight upside correction to retest the previously breached 1.0550 level before reversing back to target the above mentioned level. A daily close below 1.0550 is vital for the decline to continue.

The trading range for today is among the key support at 1.0330 and the key resistance at 1.0915

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600

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