Morning Report

The dollar versus swissy returned to push to the upside once again, nearing main resistance levels that will currently descend towards 1.0145 due to pressure from the positive signs appearing on momentum indicators. The 100 MA is still protecting the bearish direction, where it had met with previously pointed out resistance level; thus, making us see that a possible direction for today over an intraday basis could be bearish targeting first 1.0030. Keep in mind the importance of the daily close remaining below 1.0145 to maintain the expected bearish direction.

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.

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0145 targeting 0.0030 and stop loss above 1.0220, might be appropriate.