Morning Report

The Dollar versus Swissy pair is trading around the key support for the minor downside channel at 1.0225, in an attempt to breach it, yet the positive pressure seen on momentum indicators is delaying the decline. The breach will be confirmed with a four hour closing below the mentioned level to open the way towards 1.0000, where we expect the pair is to decline on the intraday basis as far as 1.0345 is intact.

The trading range for today is among the key support at 1.000 and the key resistance at 1.0550

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 1.0225 to 1.0135 and stop loss above 1.0285 might be appropriate.