Morning Report

The Dollar versus Swissy pair declined yesterday as expected to near the initial target at 1.0000, where in the image abovewe seethe pair trading within a minor descending channel targeting the key resistance for the channel at 1.0105. From here we expect the pair is to decline on the intraday basis to breach 1.0000 and head towards 0.9880 as far as 1.0270 remains intact.

The trading range for today is among the key support at 0.9880 and the key resistance at 1.0270

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 from 1.0105 to 1.0000 and stop loss above 1.0185 might be appropriate.