Morning Report

The dollar versus swissy pair returned towards the previously breached bearish direction below the main resistance that is currently at 1.0240. By looking at the image above, we see that the horizontal support levels are being pressured once again, presently being the most important is 1.0145; forming the support level for the bearish triangular pattern, which is expected to be breached to the downside. Thus, achieving a bearish trend over an intraday basis for today, yet not forgetting the importance of trading remaining below 1.0240 for the expected downside direction to prevail.

The trading range for today is among the key support at 0.9950 and the key resistance at 1.0350.

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 1.0145 and targeting 1.0030 and stop loss above 1.0240, might be appropriate