Morning Report

The minor support at 1.0030 was able to halt further declines for the Dollar versus Swissy pair to result in a slight incline within narrow ranges of 1.0030 and 1.0060. As seen in the secondary image, we see that the support level is currently a possible neckline for a bearish technical pattern, where a breach of this level will take the pair towards 0.9950 and break the psychological level at 1.0000, which will then open the way for the pair towards 0.9880. From here we expect the pair to decline on the intraday basis as far as 1.0190 remains intact.

The trading range for today is among the key support at 0.9880 and the key resistance at 1.0260

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 1.0030 to 0.9880 and stop loss above 1.0135 might be appropriate.