Morning Report

The dollar versus swissy achieved a minor bullish correction, which was expected yesterday, where it reboundedfrom the 50 MA and returned to form a horizontal pivotal support at 1.0045; representing the neckline for the bearish technical pattern. This pattern supports our previous expectations that point to an expected bearish direction over an intraday basis, initially targeting 0.9900 and then 0.9840, also requiring trading to remain below 1.0155 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.

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RecommendationBased on the charts and explanations above our opinion is selling the pair with the breach of 1.0045 and targeting 0.9900 and stop loss above 1.0155, might be appropriate