Morning Report

The dollar versus swissy is trading around pivotal resistance 1.0065 - 38.2% Fibonacci correction - where it is persistent on achieving more bullish correction that targets main resistance levels 1.0135 that touches 76.4% correction level. Thus, we can expect a bullish intraday for today heading towards it; however, the bearish short term direction will resume its way after ending the mentioned correctional upside scenario, supported by the negative signs appearing on the stochastic.

The trading range for today is among the key support at 0.9840 and the key resistance at 1.0145.

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 1.0135 targeting 1.0000 and stop loss above 1.0200, might be appropriate.