Morning Report

The Dollar versus Swissy pair breached the 38.2% correction to halt at the 50% correction at 1.0285. The stochastic indicator is trending within an overbought area, which supports the decline on the intraday basis heading towards the breach of the key support for the short term bearish channel with targets at 1.0000 as far as 1.0325 remains intact.

The trading range for today is among the key support at 1.0000 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 1.0285 to 1.0200 and stop loss above 1.0340 might be appropriate.