Morning Report

The dollar versus swissy calmed down its ascending pace and stabilized around the breached neckline yesterday at 1.0175 and around the MA 50 . Momentum indicators are moving around overbought levels; thus, causing additional bearish pressure on the pair which will impede achieving the incline awaited for since yesterday. On the overall, we expect a bullish intraday direction for today that will build its base on 1.0175 and target mainly 1.0300; requiring the daily closing to remain above 1.0090.

The trading range for today is among the key support at 0.9960 and the key resistance at 1.0300.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Monthly report

RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0175 targeting 0.0300 and stop loss below 1.0090, might be appropriate.