Morning Report

The Dollar versus Swissy pair inclined to reach the 61.8% correction, which resides at the key support for the downside channel between 1.0310 – 1.0320, yet the stochastic indicator as entered an overbought area, making us expect a decline on the intraday basis reaching 1.0200. This decline remains valid as far as 1.0325 remains intact on the four hour charts.

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 a 1.1225 remains intact with targets at 0.9600

RecommendationBased on the charts and explanations above, our opinion is selling the pair from 1.0310 to 1.0200 and stop loss above 1.0390 might be appropriate.