Morning Report

The dollar versus swissy stabilized in a sideway manner, after facing strong resistance at 1.0300. Adescending trianglepattern seems to be appearing, where its support is at 1.0235 and where we expect it to pressure the pair to breach it and head towards completing the bullish correction; while retesting through it breached resistance levels 1.0175 that had turned into support. Chances of achieving this possible bearish intraday direction will prevail if 1.0300 remains intact.

The trading range for today is among the key support at 1.0100 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.

Monthly report

RecommendationBased on the charts and explanations above our opinion is selling the pair from 1.0265 targeting 1.0175 and stop loss above 1.0320, might be appropriate.