The dollar versus swissy pair is attempting once again to breach the pivotal support for the side range at 1.0280, where the upcoming sideway pressure coming from momentum indicators insists on returning the pair within this range once again. Meanwhile, trades stabilized below the MA 50, remaining like our previous expectations for the short term direction while we still see that the expected direction is bearish over an intraday basis; targeting mainly 1.0055, where chance of achieving this decline will prevail if we do not witness trades stabilizing above 1.0400.
The trading range for today is among the key support at 1.0055 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.
|Recommendation||Based on the charts and explanations above our opinion is selling the pair with the breach of 1.0280 targeting 1.0170 and stop loss above 1.0375, might be appropriate.|