Morning Report

The Dollar versus Swissy pair continued to fluctuate around the key support for the downside channel as seen in the above image as it achieves gradual declines towards 1.0285. The oversold signs appearing on momentum indicators continue to pressure the pair to the upside which makes us believe trading is to be volatile between 1.0285 and 1.0325 in an attempt to gather the momentum it needs to continue the short term downtrend targeting 1.0000. The 1.0385 level remaining intact is crucial for the decline to occur.

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 1.0325 to 1.0220 and stop loss above 1.0400 might be appropriate.