Morning Report

The dollar versus swissy stabilized below the breached neckline yesterday at 0.9990, with attempts to trade within the bearish direction; thus, leading the pair towards a bearish short term trend. Henceforth, the bearish direction remains intact and awaits for the technical targets to be achieved, which mainly exist around 0.9840. Keep in mind the importance of 1.0030 remaining intact to insure the bearish short term intraday direction's continuing, while the daily closing remains below 1.0130 to maintain the expected bearish short term direction.

The trading range for today is among the key support at 0.9775 and the key resistance at 1.0130.

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 0.9990 targeting 0.9840 and stop loss above 1.0065, might be appropriate.