The dollar versus swissy pair managed to touch pivotal support 1.0160,mentioned in yesterday's report, where it managed to quickly rebound. This points out the importance of the mentioned level in determining the pair's next short term destination. Momentum indicators do not show preference to neither a bearish or bullish trend, where we await the assurance through it that supports our expectations that still point to achieving a bearish intraday trend for today that started with the breach of 1.0160; paving the way to a direct bearish move initially towards 1.0030. As long as resistance 1.0260 remains intact, chances of the bearish direction continuing will prevail.
The trading range for today is among the key support at 0.9975 and the key resistance at 1.0435.
The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0160 and targeting 1.0030 and stop loss above 1.0240, might be appropriate.|