Morning Report

The dollar versus swissyacquired the previously explained bearish technical pattern's targets and is currently breaching the support level for the minor bearish channel, shown above. Positive signs on momentum indicators are expected to force the pair to attempt some upside correction that might reach 1.0175, in an attempt to gain enough momentum to support the continuation of the intraday and short termbearish trend, in which its next targets are around 1.0000. The expected downside direction will prevail as far as 1.0310 is intact.

The trading range for today is among the key support at 1.9880 and the key resistance at 1.0310.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Support1.01101.00801.00000.99350.9880
Resistance1.01751.02351.03101.03901.0450
RecommendationBased on the charts and explanations above our opinion is selling the pair at 1.0175 and targeting 1.0080 and stop loss above 1.0235, might be appropriate