Morning Report

The support level for the minorbullish channel maintained its stance in front of the dollar versus swissy - currently at 1.0090 -, where the pair started its expected bullish short term direction. The minor resistance 1.0120 is impeding the assurance of this ascend. Today, we expect a bullish trend over an intraday basis where its first target is at 1.0240 and requires 1.0090 to remain intact by closing the four hours above it.

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 buying the pair with the breach of 1.0120 targeting 1.0240 and stop loss below 1.0030, might be appropriate.