The Dollar versus Swissy pair is trading within a minor upside channel, seen in the image above, where the incline was limited currently at the key resistance at 1.0430, where it is pressuring the pair to the downside alongside the negative signs appearing on the stochastic indicator. All these signs may result in a decline towards the key support at 1.0380, before rebounding back to the upside on the intraday basis targeting the breach of 1.0430 and heading towards 1.0500. This incline is valid as far as 1.0285 remains intact.
The trading range for today is among the key support at 1.0000 and the key resistance at 1.0600
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600
|Recommendation||Based on the charts and explanations above, our opinion is buying the pair from 1.0380 to 1.0500 and stop loss below 1.0285 might be appropriate.|