Morning Report

The dollar versus swissy succeeded in achieving a flawless touch of the reversal level, mentioned yesterday, at 1.0275 where trades stabilized above the first target 1.0375. However, according to the nature of the harmonic pattern suggested we see that more technical targets are on their way to being achieved; thus, expect a bearish intraday direction that will target 1.0500 and requires the four hours to remain above 1.0375.

The trading range for today is among the key support at 1.0200 and the key resistance at 1.0500.

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 1.0375 targeting 1.0500 and stop loss below 1.0275, might be appropriate.