The dollar versus swissy pair closed trading yesterday below main resistance towards the downside direction at 1.0160, which keeps chances of continuing the bearish wave intact. Momentum indicators show bearish signs that support a downside reversal; thus, we can expect a bearish direction for today over an intraday basis targeting first 1.0035. For this bearish direction to prevail, the daily close must remain below 1.0160.
The trading range for today is among the key support at 0.9950 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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|Recommendation||Based on the charts and explanations above our opinion is selling the pair at 1.0160 and targeting 1.0035 and stop loss above 1.0220, might be appropriate.|