Morning Report

The Dollar versus Swissy pair reached our suggested target yesterday at 1.0400 and maintained trading around the level, where we believe the pair is to decline on the intraday basis to target 1.0000. There is a slight possibility for an upside correction to reach 1.0450, before reversing back to the downside. This decline remains as far a 1.0575 is intact.

The trading range for today is among the key support at 1.0000 and the key resistance at 1.0700

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 1.0450 to 1.0325 and stop loss above 1.0550 might be appropriate.