Morning Report

The dollar versus swissy pair closely neared touching the first awaited target yesterday around 1.0030; however, the pair returned to achieve some upside movement, like a bullish correction for the last bearish wave at the same time as retesting the breached main level for 1.0145. From here we await a possible bearish intraday direction for today that targets the breach of 1.0030 to heads towards 0.9950 and then 0.9880, It is vital that 1.0205 remain intact, to keep chances of achieving this expected bearish direction.

The trading range for today is among the key support at 0.9840 and the key resistance at 1.0335.

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 at 1.0145 and targeting 1.0030 and stop loss above 1.0220, might be appropriate.