Morning Report

The dollar versus swissy has almost reached the maintechnicaltarget awaited for since yesterday at 1.0300 (recoring a high at1.0290 until now); clearly appearing to start a bearish correction in an attempt to rid of negative signs that are appearing on momentum indicators. We expect a base to be built on the first minor correctional 23.6% Fibonacci levelat 1.0215, and then rebound to the upside to achieve through the pair a bullish intraday direction expected in trades today towards the complete bullish technical pattern around 1.0420. It is vital that areas of 1.0175 remain intact to maintain today's bullish direction; whereas the daily close must remain above 1.0085 to continue the short term bullish direction.

The trading range for today is among the key support at 1.0085 and the key resistance at 1.0420.

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 from 1.0215 targeting 1.0350 and stop loss below 1.0100, might be appropriate.