Morning Report

The dollar versus swissy pair achieved a gradual downside trend due to pressure by resistance levels for the bearish channel that appears on the four hour image; thus, supporting the bearish short term direction for the pair. There aren't any ascending sign that might surprise this direction, which makes us expect a bearish direction over an intraday basis for today that targets 1.0030 in an attempt to breach and open a way towards 0.9840, which requires the daily close to remain below 1.0200 for it to prevail.

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 1.0080 and targeting 1.9950 and stop loss above 1.0145, might be appropriate.