Morning Report

The dollar versus swissy ascended to reach the bearish channel's main resistance at 1.0360; forming a bullish technical pattern, where its neckline is at 1.0360 and supporting further intraday upside moves. Stochastic is showing overbought signs, pointing to chancesfor fluctuations around the mentioned neckline, where we await a clear breach for the level assured bya four-hour closing above it and targeting initially 1.0450 – 1.0480. The expected upside move will prevail if 1.0275 is not breached.

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 (so far) as far as 1.1225 remains intact with targets at 0.9600.

RecommendationBased on the charts and explanations above our opinion is buying the pair with the breach of 1.0360 and targeting 1.0480 and stop loss below 1.0275, might be appropriate