Morning Report

The Dollar versus Swissy breached the key support for the bullish channel, after being pressured from the key resistance currently at 1.0415; resulting in a decline to currently face a support level at 1.0285, which may be forming the neckline for the bearish technical pattern, making us believe the pair is to decline on the intraday basis, after successfully breaching the above mentioned level to open the way towards 1.0185. The 1.0415 level must remains intact on the four hour charts for the decline to continue.

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

RecommendationBased on the charts and explanations above, our opinion is selling the pair with the breach of 1.0285 to 1.0815 and stop loss above 1.0360 might be appropriate.