Morning Report

The Dollar versus Swissy pair started to correct the last decline, where we expect the pair to reach 38.2% correction at 1.0480 before reversing to the downside on the short term. From here we expect the pair to decline on the intraday basis; targeting 1.0300 and 1.0000 respectively, as far as 1.0550 remains 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 1.0480 to 1.0340 and stop loss above 1.0550 might be appropriate.